A whale expanded its HYPE position while market commentary highlighted heavy leveraged short interest and spot buying pressure near the $40 support area.
A whale controlling wallet address 0xEe0A18B394ecE1D7bE81Be15d6cEc3Ac7707b71C withdrew 72,264 HYPE from Gate.io, adding to an existing position that the report describes as a $16.8 million stash and bringing the wallet’s holdings to 396,820 HYPE. The report also says the whale’s broader HYPE exposure stands at $168 million, creating a discrepancy with the wallet valuation previously cited. Alongside the transfer, the article notes that spot buyers and crowded leveraged shorts are facing off around the key $40 support zone.