Hyperliquid whales execute structured HYPE accumulation, staking, and profit-taking into January 2026

In early December 2024, a major Hyperliquid HYPE wallet began systematically adding over 20,000 tokens per spot transaction, building a position above 250,000 HYPE at entry levels mostly between $8.10 and $8.69 before prices moved higher. Through 2025, the protocol’s TVL climbed from around $2 billion to nearly $6 billion with daily fees often between $3 million and $10 million, while a separate address later staked about 651,900 HYPE near $11.50 and eventually moved roughly 665,000 tokens to Bybit on 23 January 2026 to lock in about $7.04 million in profit.