$HYPE ath

Probably the most insane ‘wallet’ cluster this week is this anon whale who made roughly $100M by doing nothing but holding ETH and BTC longs

His all-time Hyperliquid PNL across the wallets is now roughly $80M, after holding through a massive drawdown.

He’s still long 61K ETH ($148M) across 4 wallets, and 2K BTC ($155M) across 6 wallets.

Across these wallets, he’s holding a combined $213M USDC on Hyperliquid as margin.

0xa5b0edf6b55128e0ddae8e51ac538c3188401d41

0xfd423284f6a9c73a2a3d53cab8921d6533533d97

0xa875890465da20062bcf3b024bf7d54e69c725a8

0xf78c5d8d4b604a140d43a46209fade655536c581

0x93ab7dbdeb996806454de19c35c8247f4b2511f8

0xbd1c84113c6deb5044be0c2221f9e9403811ff0e

0x237152b038d88f4156a0cd71090462de7e3f0883

0xec7f9f5b31b8f5da6ac6c0973bbd496e16f9df39

0x3b7f4282f983c37526f04bbac7dab772ee743998

0x4be5f249c4df500ede3fed4171bd37b8563420c0

He already closed roughly $70M of his ETH long from another linked account, where he made more than $25M this week.

0x6c8512516ce5669d35113a11ca8b8de322fd84f6

No clue who this could be, but based on the onchain info we have, it looks like some Asian whale.

All the funds came from a few Asia-based CEXs and Tron, where he bridged USDT from Tron to ETH and then swapped it for USDC on Arbitrum.

Kinetiq to launch Elysium, a high-performance L2 for Hyperliquid.

https://x.com/Kinetiq_xyz/status/2091888509472932145

A wallet cluster possibly related to Sakolkorn Sakavee, the co-founder and former chairman of Bitkub (Thailand’s largest crypto exchange), unshielded 34.1K ZEC ($26.1M) over the past day and deposited it to Hyperliquid.

He then sold 24.1K ZEC ($18.5M) and bought 238 BTC.

There is still 10K ZEC ($7.6M) on Hyperliquid, with sell orders placed around $780.

0x614e08cf0b6ab0248b040e0103be6ba61716b8e3

0x59ad11e7eb8de6b28a367e175517d90ce007da3f

0x75399cb6dbd484836e930e91a08bd29edf62460f

0xa8178863d6f356623e07a429a94f4fd4c8f28b99

0x55086f715ca142b34db9af614611ebd853224582

0x7873f6df0e48980586834b62111b5d2566ec82b7

According to my estimates, Hyperliquid Strategies has bought 430K–450K HYPE (~$35M) over the past 26 hours and continues to buy.

The wallets above are still unshielding ZEC and selling it on Hyperliquid.

They have unshielded a total of 65.82K ZEC ($51.6M), or roughly 0.4% of ZEC’s circulating supply and 1.37% of all currently shielded ZEC, and sold 53.9K ZEC ($42.3M) while buying 536.7 BTC so far.

The unshieldings are still ongoing, and they have placed sell orders for another 8.37K ZEC ($6.6M) on Hyperliquid.

Two wallets I believe are linked to Hermeneutic have sold ~$15M worth of HYPE over the past three days.

They still hold 660K HYPE ($56M), which they are slowly selling.

https://hypurrscan.io/address/0x0a8494f70031623c9c0043aff4d40f334b458b11

https://hypurrscan.io/address/0xfc1ccff3fa575ce4297ac24aa00c06946bcf40da

Over the past 60 hours, Hyperliquid Strategies has bought roughly $60M worth of $HYPE on HyperCore and roughly $16M worth of HYPE on CEXs.

This amounts to roughly 920K–950K HYPE.

HIP-4 permissionless deployments will be enabled on the next network upgrade. Templates will become available over time through validator vote.

Unit deposited $15M USDC into Hyperliquid over the past three hours and has bought 136K HYPE ($10.9M) so far, while continuing to buy HYPE with the remaining USDC.

https://hypurrscan.io/address/0x3842544417dd7aaddeb83dc699484dcc4e5b9b9a

With Unit testing HIP-4 stuff on testnet and already holding 350K HYPE, this purchase would give it roughly the 500K additional HYPE needed to launch a HIP-4 DEX. It is therefore pretty much confirmed that Unit will also launch a HIP-4 DEX.

Outcome has deployed the first DEX on HIP-4, called “OUT.”

https://app.hyperliquid.xyz/explorer/tx/0xac56fb89c1c8203aadd0044338c77801fc00136f5ccb3f0c501fa6dc80cbfa25

Two days later, this entity is still unshielding ZEC and selling it on Hyperliquid.

Over the past three days, it has unshielded a total of 112.8K ZEC ($90M), of which 13.05K ZEC ($10.4M) remains unsold.

The ZEC wasn’t shielded for long. This entity shielded it just minutes before unshielding it and depositing it into Hyperliquid, presumably to obscure the trail. All of the ZEC appears to have been withdrawn from Binance in late 2025 or early 2026.

t1dZmyFcBaFa9U2VpyLSUWbmtAMPyQLZpUQ

It rotated the proceeds into 38.5K SOL ($4M) and 872.4 BTC ($67.7M).

The 112.8K ZEC represents roughly 0.67% of ZEC’s circulating supply and 0.54% of its maximum supply.

ZEC’s price is 2% higher than when it started selling.

*HYPERLIQUID IN TALKS WITH KRAKEN PARENT ON US MARKET ENTRY: BBG

Link

Loracle is betting heavily against Robinhood coins, shorting 9.13M PONS ($5M) and 22.5M CASHCAT ($5.7M), making him the largest shorter in both markets on Hyperliquid.

He is currently down a combined $1.4M on the two shorts.

https://hypurrscan.io/address/0xefe4c06b6d310978bead596e1798a4fc1d9d194b

Since Hyperliquid Strategies ($PURR) started buying on August 25, they've bought between 3M and 3.2M HYPE, now worth ~$272M (their cost basis is a bit lower, since HYPE has pumped over that period).

Loracle added another 8M PONS to his short and is now short 17.4M PONS ($15.6M).

He is currently down $6.3M on the position and is still adding to it.

His CASHCAT position remains unchanged.

https://hypurrscan.io/address/0xefe4c06b6d310978bead596e1798a4fc1d9d194b

TradeXYZ just deployed its HIP-4 DEX.

https://app.hyperliquid.xyz/explorer/tx/0xe97c1119fb0a6d37eaf50443bd78970201d500ff960d8c098d44bc6cba0e4722

Garret Bullish just sold $10M worth of spot HYPE within 3 minutes, pushing HYPE from $87 to $85.5.

He also fully closed his BTC long, closing a little over $100M in notional over the past hour.

Around 7 hours ago, he added to his ZEC short, which has now grown to 40K ZEC ($47M). He is currently down $24M on the position.

https://hypurrscan.io/address/0x92ea19eceb7a8de0f50978a1583a5d8b018050e9