- Hyperliquid (HYPE) has surged approximately 186% since the beginning of 2026.
- Whale purchases have been a significant part of Hyperliquid’s recent demand.
- Despite notable whale activity, retail drivers remain the main drivers of HYPE’s upsurge.
Hyperliquid (HYPE) has proven to be one of the best-performing cryptocurrencies in 2026 despite the overwhelming bearish pressure in the broader crypto market. The cryptocurrency has recorded approximately 186% profit this year, reaching an all-time high of $76.89 on June 16, according to TradingView’s data.
HYPE Hits a New All-Time High
Notably, HYPE achieved its highest monthly gain of the year in May, when the cryptocurrency rallied from a $38.18% monthly low to $75.59 before consolidating to $56.60 on June 10, 2026. However, HYPE surged following the return of massive demand, reached an all-time high, and is currently consolidating, trading at $$68.49 as of the time of writing.
On-chain data reveal that HYPE’s outstanding performance was a result of whales’ accumulation. The pullbacks happened when they stepped aside, but there are indications that the whales have returned in a latest shift in behavior.
Whales Fuel HYPE’s Bullish Momentum
According to data from On-chain Lens, two of the most notable HYPE purchases over the past day came from a whale identified as Garrett Jin. Jin acquired 71,092 HYPE, equivalent to $5.06 million. Meanwhile, a second unidentified whale purchased 50,000 HYPE worth $3.58 million, while holding roughly 200,000 HYPE worth $14.33 million at the time.
Despite the closed deals, on-chain data shows Jin still has an active time-weighted average price (TWAP). It means that he will continue buying HYPE in increments over a defined period. A move that crypto users believe will strengthen the cryptocurrency’s outlook, considering how it confirms future demand.
Related: Hyperliquid Whale Increases $147.6M 50x S&P 500 Short Amid Market Selloff
The Main Driver Behind HYPE’s Upsurge
Many crypto users, particularly retail investors, consider such whale activities a bullish signal. Typically, the anticipation of whale buys encourages traders to re-enter the market, aiming to capitalize on the potential bullish momentum such moves could trigger.
It is worth noting that despite the exceptional purchases by whales, retail traders have been the primary force behind HYPE’s recent rally, according to “Whale-Retail Delta,” a metric that tracks the particular cohort steering an asset in either direction. The indicator shows that retail investors have controlled HYPE’s trend since June 9.
Notably, the HYPE price dynamics reveal that whale activity forms the catalyst and signal for a retail-dominated market. Considering the current situation, with retailers in the driving seat, the anticipated whale inflow could boost HYPE’s bullish momentum and push the crypto asset to new frontiers.
Related: HYPE Hits Key Zone as Traders Watch for Breakout Signal
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
