HYPE Token Eyes $90 Level Amid Whale Accumulation and HIP-3 Upgrade

Key Facts

1Lookonchain reported a whale wallet purchasing 430,224 HYPE tokens worth $35.1 million.

2A newly created wallet withdrew 94,149 HYPE tokens worth $7.66 million from FalconX.

Amid growing interest in decentralized trading protocols, the HYPE token is experiencing significant price momentum driven by intense whale activity and anticipation of upcoming network enhancements. According to reports, Lookonchain identified a whale wallet purchasing 430,224 HYPE tokens valued at approximately $35.1 million. Additionally, a newly created wallet withdrew 94,149 HYPE tokens worth $7.66 million from the FalconX platform, signaling a concentrated accumulation phase by large-scale holders.

Analysts link this bullish sentiment to the HIP-3 upgrade, which enables users to stake 500,000 HYPE tokens to deploy their own perpetual markets, potentially increasing token utility and absorbing circulating supply. This technical milestone introduces optional on-chain allowlists for market deployers, a feature that could address regulatory concerns and attract institutional liquidity by allowing for permissioned trading environments within the broader decentralized framework.

With authoritative price data currently unavailable, market participants are closely monitoring whether this large-scale accumulation can sustain a rally toward the $90 psychological level. The focus remains on the adoption rate of HIP-3 and the continuation of institutional-grade inflows, as these fundamental drivers will likely determine the token's ability to maintain its upward trajectory in the coming sessions.