The decentralized derivatives exchange Hyperliquid is capturing market attention as its native token, HYPE, approaches new all time highs near the $40 mark on Sunday May 25. On-chain insights show the rally was fuelled the media buzz surrounding a billion-dollar Bitcoin bet reversal by a prominent whale trader. Will HYPE price advance further or retreat in the weak ahead ? Hyperliquid Price Hits All-Time Highs amid James Wynn Generates Tailwinds In a bold trading move that has sparked media headlines, a crypto trader on Hyperliquid, identified as James Wynn (also known by the moniker “moonpig”), executed one of the largest on-chain short bets in recent history. On Sunday, Wynn opened a $1 billion short position on Bitcoin (BTC) with 40x leverage, putting nearly $50 million of his entire wallet balance on the line via a cross-margin position. This audacious trade came just hours after he closed a similarly sized $1.2… Read More at Coingape.com
The post Hyperliquid Hits All-Time High at $38: What’s the HYPE Behind the $13 Trillion Rally? appeared first on CoinGape.
