HYPE Reaches Another New ATH! Bulls are Unfazed

The world of cryptocurrency is full of exciting moments, and one of the latest big events is about the HYPE token. Just recently, HYPE reached its highest price ever! This is called an All-Time High or ATH. Even though the price dropped a little afterward, people are still feeling good about HYPE’s future. Let’s explore what made the HYPE token rise, who helped it, and what could happen next.

HYPE Hits Its Highest Price

On May 26, the HYPE token broke past the $39 mark. That means one HYPE token was worth more than $39 for the first time ever. In fact, it reached $39.90 at its highest point. That’s a big jump in price.

In just one day, the token price went up by 13%. Over the whole week, it rose by 48%! That means if someone had bought $100 worth of HYPE a week ago, it would now be worth $148. That’s why people are excited.

After the price peak, HYPE dropped a little. It went down about 1.8% and is now trading around $37.63. But this small drop doesn’t worry most people. Many believe the price could rise again.

Also Read: Is Solana Warming Up to Hyperliquid? New Statement

Big Traders Helped Boost HYPE

A major reason for this price jump is something called whale activity. In the crypto world, a whale is a person or group that holds a lot of money and can make big trades.

One whale on a platform called Hyperliquid made a huge move. This person closed $1 million in Bitcoin short positions using 40x leverage. That means they were betting Bitcoin’s price would fall but decided to close that bet instead.

This action made other traders feel confident. They thought something big was happening, so many of them bought more HYPE. Because of that, trading activity increased a lot — by 29%! The total money moved in HYPE trades reached over $444 million.

James Wynn Joins the Action

Another important person in this story is James Wynn. He’s a well-known trader in the crypto world. Last week, he made big moves on the Hyperliquid platform too.

First, Wynn closed a long position on Bitcoin worth $1.25 million. That means he was betting the price would go up, and he ended that bet. Right after that, he opened a new short position for 1,038.7 BTC that’s worth about $111.8 million!

His plan didn’t go perfectly. In only 15 hours, he lost about $15.87 million. But Wynn is skilled. He took out 28 million USDC (a stablecoin) from the platform and ended up making $25.2 million in profit from earlier trades.

Over the last 75 days, Wynn has made 38 trades on Hyperliquid. He won 45% of them. Even though that’s less than half, the profits show how much power his trades can have on the market.

HyperFND Social Account Got Hacked, But No Harm Done

While all this trading was going on, there was a small problem with the HyperFND project. Its official X account (X is the new name for Twitter) was hacked. But don’t worry the team fixed it very fast.

The good news is the hack didn’t affect the blockchain or users’ accounts. That’s because they use strong safety tools like two-factor authentication (2FA), which helps protect logins. The HyperFND team also warned everyone to be careful with links and fake news.

Also Read: How to Buy Hype Meme Token (HMTT)

What’s Next for the HYPE Token?

Even with the ups and downs in price, many people still believe in HYPE. It’s growing fast, and lots of people are trading it. This shows strong interest from the crypto community.

If trust stays high and people keep trading HYPE, the token might break new records again. But remember, crypto prices can change quickly, so it's always important to be careful.

Conclusion

The HYPE token has had an exciting journey recently. It hit a new price record of $39.90 thanks to bold moves by big traders like a Bitcoin whale and James Wynn. The trading volume also grew, showing strong support from the community.

Even though the price is now around $37.63, many people think HYPE still has room to grow. As always, keep in mind that crypto markets move fast and can be risky.

FAQ

What is the HYPE token?

HYPE is a cryptocurrency token that people can buy, sell, and trade. Its value changes based on market activity.

What does ATH mean?

ATH stands for "All-Time High." It’s the highest price a token has ever reached.

Who is James Wynn?

James Wynn is a well-known crypto trader. His big trades on Hyperliquid helped bring attention to the HYPE token.

Was HyperFND’s system hacked?

Only the social media account was hacked. The main system and users’ accounts were safe.

Can HYPE’s price go higher?

It might, especially if more people trust and trade the token. But always be careful — crypto prices can change fast.