Two Whale Wallets Accumulate Over $9M in HYPE Tokens Through Coordinated Spot Purchases

• Two wallets accumulated over $9M in HYPE within 24 hours using coordinated spot orders.
• Both wallets funded spot accounts from Arbitrum and PERP before large HYPE buys.
• Despite large holdings, both wallets show slight unrealized losses from post-buy price shifts.

A surge in high-value HYPE token transactions was recorded between June 8 and 9, 2025, with two crypto wallets, identified as 0xd83 and 0x9E8, executing purchases exceeding $9 million. On-chain records show a clear pattern of structured accumulation, involving pre-funded spot accounts and synchronized execution of large buy orders.

Wallet address 0xd83CfF88A32fFbf3951f2b13e4A0A37103b3193D made a major acquisition on June 9, beginning at approximately 02:15 GMT. The first recorded trade involved 71,431.42 HYPE tokens purchased at $35 each, amounting to roughly $2.5 million.

This was followed by two additional spot orders, 35,968.37 HYPE at $35.375 and 35,508.73 HYPE at $35.5, valued at $1.27 million and $1.26 million, respectively. All three transactions were completed within a short timeframe, indicating pre-configured order placement.

To ease these purchases, the wallet received a 2.5 million USDC deposit from the Arbitrum network. Seconds later, the funds were transferred from the wallet’s perpetual account to its spot trading account. The wallet now holds 70,617.6 HYPE tokens, currently valued at $2,460,741.04.

At the time of reporting, the holding displays an unrealized loss of $39,358.93, or -1.57%, likely due to market price adjustments following the large orders. The USDC balance stands near zero, with just 0.03 USDC remaining, and no active positions in staking or perpetual trading were detected.

Wallet 0x9E8 Expands Holdings to Nearly $7M

Wallet 0x9E875Bd28E5e001478c16CB0C8329116a3c3e816 conducted a separate round of accumulation on June 8. The wallet executed three transactions within seconds, purchasing 28,500 HYPE tokens at average prices of $35.545, $35.524, and $35.436. These buys were valued at $302,136.43, $355,235.37, and $354,362.32, totaling more than $1 million.

The payment was supported by a deposit of 999,999.82 USDC sent from the Arbitrum network as well. Similar to wallet 0xd83, the wallet moved its entire amount from the perpetual balance to its spot account ahead of putting through the orders.

As of now, the wallet contains 196,344.22 HYPE tokens that are worth a total of $6.87 million following their token price of $34.974. The current situation shows an unrealized loss of $131,510.45, which amounts to a -1.88% drop. There is just $1,645 USDC in the wallet, and it is not taking part in any other DeFi activities.