The phrase "the whale is coming to hit" left a deep impression, and Machi Big Brother's bold operations in the cryptocurrency market have once again drawn attention. According to on-chain data tracked by Yuxin, he has been continuously buying HYPE spot from May 17, with a cumulative amount reaching $5.89 million, currently showing a floating profit of over $1.4 million.
Machi Big Brother Continues to Increase HYPE Spot Position
Data shows that since May 17, Machi Big Brother has continued to increase his HYPE spot purchases. According to Yuxin's monitoring data, up to the latest statistics, Machi Big Brother has accumulated 200,000 HYPE tokens, with a total investment of $5.89 million, at an average purchase cost of around $29.4. Calculated at the current market price, this investment has a floating profit of over $1.4 million.
As an influential "whale" in the cryptocurrency market, Machi Big Brother's continuous buying undoubtedly sends a positive signal for the HYPE token.
Whale Trading Triggers Market Chain Reaction
Whale large-scale transactions often have a huge impact on the cryptocurrency market, especially for specific tokens like HYPE. A massive influx of funds can quickly change market liquidity and intensify price fluctuations. For example, on May 17, a whale invested $1.75 million USDC to purchase 64,043 HYPE tokens at an average price of $27.3, which led to a temporary market liquidity drought and a sharp 8.2% price increase within two hours.
Such large-scale purchase actions are often interpreted by the market as a strong bullish signal from professional investors, easily attracting retail investors to follow, further amplifying market volatility.
Besides direct price lifting, the HYPE market recently witnessed a fierce short squeeze event. On May 23, the whale address 0x20B1 was forced to close out its HYPE short position worth $23.5 million on the Hyperliquid platform, suffering significant losses. This event triggered a chain reaction, not only accelerating the HYPE price increase but also causing more short positions to be forcibly liquidated.
Accompanying the price rise, HYPE's market trading volume has shown an explosive growth. HYPE's trading volume in the past 24 hours increased by over 170%, reaching approximately $400 million. Additionally, the total Open Interest on the Hyperliquid platform hit a historical new high of $8.9 billion, indicating continued growing interest and participation in the token.
