HYPE recently became one of the strongest tokens in the encryption market. Against the background of the overall weakness of the bulk, the coin rose to US$ 76.95 on 16 June, refreshing its historical high, with a cumulative increase of approximately 179.45 per cent during the year.
The chain data also show that large holders re-enter the field after a brief silence, but the spot market has been dominated by net sales for the past 10 days, and short-term funding differences are evident.
The whale buys it back.
Over the past day, some of the giant whales have returned to the growth of the Hype. The chain tracking data show that 71,092 HYPEs were purchased at an address marked Garrett Jin, valued at approximately $5.06 million; another unnamed giant whale bought 50,000 at a value of about $3.58 million.
On-chain Lens data show that Garrett Jin still has a TWAP buy-in bill in progress, which means that its buy-in action is not over and will continue to be absorbed at the established pace.
The occupant dominates the recent rise.
According to the article, HYPE ' s rise since 9 June has been largely driven by the diaspora. The indicator is currently -0.095, and negative values mean that market ownership is more in bulk.
And that explains why, at the same time as the HYPE is at a new high, prices are still volatile. Bulk trade is more frequent and benefits are usually closed faster than giant whales.
At the same time, spot-to-flow data show that during the time of the scattering, giant whales had been declining. The cumulative net sales of the HYPE spot market over the past 10 days amounted to $5.551 million, indicating that the overall sales were still significantly higher than the purchases.
Looks up at $79.
In terms of liquidation heat, there are still more visible liquidity concentrations above the HYPE. According to the article, the current dense area of top orders extends to the vicinity of $79, a position that may continue to pull prices.
By contrast, the low density of the bottom, although also distributed in terms of liquidity, implies a relatively limited downward pull on prices. If giant whales continue to grow and the pressure on sales does not increase further, the short-line HYPE may still be tested over and over again.
Overall, HYPE is taking a new turn at the top of its history, and it's taking a lot of pressure. The key to the follow-up is the sustainability of whale buys and whether the boom led by the diaspora will be interrupted by faster profitability.