HYPE rose above $88 on September 6, reaching a fresh all-time high and trading at $88.5, up 4.21% over 24 hours, according to HTX market data cited by BlockBeats. TradingBeats data showed that Hyperliquid's largest HYPE long address, 0x082e...ca88, held about 1.38 million HYPE worth approximately $122 million in a 5x cross-margin position. The position had an average entry price of $38.68 and about $68.62 million in unrealized profit. The address opened a roughly $40 million leveraged HYPE long about five hours before Robinhood announced spot HYPE trading on October 23, 2025, prompting community speculation that it had access to undisclosed information. It later added about 93,500 HYPE at prices between $31 and $32 and has paid approximately $5.42 million in funding fees while maintaining the position.