Back

Hyperliquid's HYPE Token Reaches All-Time High of $50, Eyeing $100 Target

Hyperliquid’s HYPE token saw a sharp rally amid claims of whale-driven manipulation, with a $15 million profit for orchestrators, while broader growth trends continue to attract attention.

HYPE

Summary

Hyperliquid's HYPE token reached a record high of $51.05 amid allegations of whale-driven manipulation. A group of large wallets reportedly manipulated XPL's price, transferring millions and generating significant profits. Despite controversy, Hyperliquid’s trading volume and revenue continue to surge, outpacing major exchanges like Robinhood and Binance in certain metrics.

Terms & Concepts
  • Whale-driven manipulation: A strategy where large traders, known as 'whales,' artificially inflate or deflate the price of a token to make substantial profits at the expense of smaller traders.
  • XPL token: A token associated with Hyperliquid’s platform, involved in the price manipulation claims discussed in the article.
  • DefiLlama: A platform that tracks decentralized finance (DeFi) metrics, providing data on trading volumes, liquidity, and other key performance indicators.