Hyperliquid (HYPE) Price Analysis: Whale Accumulates $322M as Token Burns $2.65M Daily Amid $100 Target

Key Highlights

Table of Contents

HYPE has surged 4% over the last day, currently priced at $82 with year-to-date gains exceeding 220%
Major whale accumulates an additional $26M in HYPE tokens, staking the entire position for a total holding worth $322M
Protocol executed burns totaling 32,770 HYPE tokens (approximately $2.65M) within a 24-hour period at $81 average price
Platform open interest climbed from $7.9B to $8.1B weekly, while Bitcoin trading volume plummeted 79% over seven days
Technical analysts project $100 price level but caution traders about potential retracement to $75

The HYPE token from Hyperliquid is currently changing hands around $82, posting impressive year-to-date returns exceeding 220%. This performance has elevated it to the 9th position among cryptocurrencies by market capitalization, commanding an $18.2 billion valuation.

The past 24 hours saw the token appreciate by 4%, boosted partially by Hyperliquid’s addition of USELESS, a Solana-based memecoin, to its platform. Following the listing announcement, USELESS experienced a 15% price surge while trading activity expanded 30% to reach $173 million in volume.

A prominent whale investor has been demonstrating sustained accumulation behavior. On-chain analytics platform Lookonchain identified wallet 0x6436 acquiring an additional 308,569 HYPE tokens valued at approximately $26 million, subsequently staking the entire amount. This purchase elevates the wallet’s total holdings to 4.05 million HYPE tokens worth roughly $322 million — with every token actively staked.

🚨HYPE WHALE ADDS ANOTHER $26M!
Wallet 0x6436 bought another 308,569 $HYPE, about $26 million, and staked it. That takes itsstack to 4.05 million $HYPE, worth about $322 million, all staked, per @lookonchain.
The same address has been buying and staking since early summer,… pic.twitter.com/DvKCuadIfg
— Crypto Banter (@crypto_banter) September 10, 2026

Crypto Banter highlighted this transaction on X (formerly Twitter), pointing out that the same wallet address has maintained consistent buying and staking activity since early summer months, including a substantial 3.24 million HYPE acquisition completed last week.

From a supply perspective, Hyperliquid’s protocol purchased and permanently destroyed 32,770 HYPE tokens — representing approximately $2.65 million in value — within a single 24-hour window at an $81.01 average cost, based on blockchain data reported by OnchainLens. The cumulative burn total has now reached 48.57 million HYPE, representing roughly $3.82 billion at present market valuations.

HYPERLIQUID BURNS $2.65M HYPE IN 24 HOURS
Hyperliquid bought and burned 32.77K $HYPE (~$2.65M) over the past 24 hours at an $81.01 average price.
Lifetime:
• 48.57M $HYPE burned
• ~$3.82B at current value
• 4.86% of max supply permanently removed@HyperliquidX pic.twitter.com/WvyxflnHIw
— Onchain Lens (@OnchainLens) September 12, 2026

Technical Pattern Suggests $100 Target, Though Correction Remains Possible

The total open interest across Hyperliquid’s platform increased from $7.9 billion to $8.1 billion throughout the past week, indicating continued trader positioning for additional price appreciation.

Conversely, Bitcoin trading activity on the exchange experienced a dramatic contraction — falling from 3.08 million transactions during the week beginning August 16 to merely 656,000 trades last week, representing a steep 79% reduction. Technical charts display a bearish divergence pattern on the daily timeframe, suggesting potential momentum deterioration.

From a technical standpoint, chart analysts have identified a bull flag formation developing after HYPE successfully breached the $75 resistance level. While maintaining their $100 price objective, analysts acknowledge the possibility of an intermediate pullback toward $75, which would constitute approximately a 13% decline from current trading levels.

Regulatory Challenges Represent Primary Concern, Neuner Warns

Ran Neuner, founder of Crypto Banter, joined Cointelegraph’s Chain Reaction podcast and identified regulatory oversight as the most significant risk facing Hyperliquid. He explained that government agencies have already begun implementing regulations targeting centralized cryptocurrency exchanges and anticipates decentralized platforms will face similar scrutiny next.

Despite this concern, Neuner emphasized that Hyperliquid’s established network effects provide substantial competitive protection. “You can’t copy a network,” he stated, drawing parallels to Uber’s market dominance in the ride-sharing sector.

Regarding regulatory developments, President Trump announced in August that CFTC Chair Michael Selig was actively working toward facilitating Hyperliquid’s entry into the United States market “in a fully compliant and legal fashion.” HYPE tokens rallied approximately 20% following that announcement, trading near the $70 level at that time.

HYPE is presently trading at $82 with a fully diluted market valuation approaching $78.4 billion.