Hyperliquid price gained to above $25 as buyers piled into the HYPE token.
Lookonchain shared details of two whales adding to their Hyperliquid positions.
Lookonchain noted that the large investors had deposited $5 million in USDC into Hyperliquid to purchase more HYPE tokens.
Bitcoin’s rally toward $90,000 on Monday drew widespread market attention, but Hyperliquid also stood out among assets posting notable gains.
The decentralised perpetuals trading platform’s native token, HYPE, rose nearly 5% as it moved back above the $25 level.
The advance followed a large whale transaction earlier in the session, alongside on-chain data indicating continued accumulation by large holders.
Sentiment was further supported after Hyperliquid shared an update related to HYPE trading activity and transparency on the platform.
HYPE featured among a group of tokens showing strong 24-hour performance, alongside Midnight, Sky, Kaspa and Sei, as broader interest extended beyond Bitcoin’s move.
Hyperliquid whales buy more HYPE, price gains
Recent on-chain data, highlighted by Lookonchain on X, reveals a strategic accumulation by two prominent whale wallets.
On December 22, 2025, Lookonchain noted that the large investors had deposited $5 million in USDC into Hyperliquid to purchase more HYPE tokens.
One of the wallets held 214,497 HYPE, worth over $5.44 million at the time and still boasted $5.52 million, likely ready to pounce.
The other whale held 102,460 HYPE worth $2.61 million and dry powder of $2.45 million meant for future purchases.
Both whales held the money in the USDC stablecoin.
Over the past hour, two more whales deposited $5M USDC into #Hyperliquid to buy $HYPE.
0xDAeF currently holds 214,497 $HYPE($5.44M) and still has 5.52M $USDC ready to buy more.
0x3300 currently holds 102,460 $HYPE($2.61M) and still has 2.45M $USDC allocated for further… pic.twitter.com/qwWh2GB1vN
— Lookonchain (@lookonchain) December 22, 2025
As noted, the price of HYPE, which had experienced a decline of over 14% over the past seven days as it dropped to $22, swiftly reclaimed the $25 threshold.
The rebound could accelerate amid an altcoin bounce, allowing for a retest of the $30 resistance zone.
Whales might offer a formidable bid wall. A surge in buying pressure shows in the 15% spike in daily trading volume.
Hyperliquid Labs comments on HYPE insider trading
The HYPE price fell sharply in recent weeks, with allegations of insider trading surfacing.
Now, Hyperliquid has officially commented on the concerns.
In its update, the team categorically denies any misconduct from its members.
Per a statement shared on X, Hyperliquid Labs has clarified that a wallet accused of shorting HYPE belonged to a former employee who was terminated in the first quarter of 2024.
Hyperliquid Labs emphasised its stringent ethical standards. It includes a comprehensive trading policy that prohibits derivatives trading involving HYPE by team members and maintains a zero-tolerance stance on insider trading.
Co-founder of Hyperliquid Illiensic posted a similar update on Discord.
While the platform has dismissed the allegations of insider trading as solely the work of an unaffiliated former employee, the co-founder noted two key facts: Employees and the team cannot trade derivatives on the HYPE token or use insider information to trade. The same cannot be passed to third parties.
