In December 2024, hype token as large whale movements within the Hyperliquid ecosystem began to direct the token’s price trajectory and liquidity. Large stakeholders chose a systematic approach of gradual accumulation and staking, thereby fostering stable market growth rather than increasing volatility. This strategy not only swayed price trends, but also affected the protocol’s Total Value Locked (TVL) and overall revenue stream.
How did Whale approach token accumulation? What drove the increase in TVL and fee income?
How did Whale go about accumulating tokens?
In early December 2024, featured whales began receiving regular spots and were valued at approximately $20,849 each. hype token. Purchases started at $7.91 and progressed between $8.10 and $8.69, and the holding quickly grew to over $250,000. hype. A key aspect of this strategy was to minimize slippage and effectively utilize the liquidity present in the market.
The purchasing pattern emphasizes planned trading, including both decentralized and centralized exchanges, indicating long-term planning rather than impulsiveness. Similar strategies have been deployed by other whale wallets during this period, showing that they prioritize strategic positioning over immediate profit capture. As more liquid supply was locked into staking, exchange balances decreased, reducing potential downward pressure on prices.
What drove the increase in TVL and fee income?
In 2025, HyperLiquid’s TVL increased significantly, driven by significant trading volume and constant fee generation rather than one-time capital, rising from around $2 billion to nearly $6 billion by the end of the summer. Daily rates often range from $3 million to $10 million, reflecting ongoing user engagement. TVL stabilized in the $4 billion to $5 billion range by year-end, indicating stability in liquidity.
In January 2026, an investor made headlines by moving approximately $665,000. hype He sold it to Bybit and made a profit of $7.04 million. This investor has previously acquired hype On average, $11.50 investors chose staking, which yields about 2.3% per year, and gradually increased their total balance. This exit was clearly strategic given the short lock period and 7-day unstaking queue.
At the same time, the report showed that whales in the dYdX ecosystem are also withdrawing from a staking-centric position and moving wisely to centralized platforms, indicating a change in behavior across the derivatives DEX market.
Key takeaways from these developments include:
- Whale has consistently adopted a strategic, step-by-step acquisition strategy.
- TVL’s growth was mainly supported by strong trading volumes, as opposed to temporary capital inflows.
- Fee income remained stable, reflecting active protocol usage.
- Staking rewards played an important role in the profit strategy of large holders.
Amidst such complex market operations, insights into whale strategies and their far-reaching effects paint a compelling picture of how a systematic approach can shape token dynamics beyond the typical speculative lens.
“Our approach has always been to ensure sustainable growth without bowing to the whims of the market,” said the eminent figure. hype Investor.
