Whale account deposits $8.09 million USDC into HyperLiquid and places an $8 million SOL buy order

image

Source: CryptoNewsNet Original Title: Hyperliquid Whale Places $8.09 Million $SOL Buy Orders with $USDC Original Link:

Whale Account Places Large SOL Buy Orders on HyperLiquid

A large cryptocurrency whale account deposited approximately $8.09 million USDC into HyperLiquid and immediately placed multiple large buy orders for SOL. According to data from the on-chain analytics platform, the whale placed buy orders totaling up to $8 million for SOL. This indicates the whale’s strong confidence in the recent price outlook for SOL.

The whale deposited $8.09 million USDC into HyperLiquid and placed an order to buy 59,458 SOL tokens, amounting to $8 million, within a price range of $133.88 to $135. The whale also holds 427,441 HYPE tokens, valued at approximately $11.09 million.

On-Chain Transaction Data Analysis

After depositing $8.09 million USDC into HyperLiquid, the whale placed a buy order for 59,458 SOL. The whale submitted orders within a narrow price range of $133.88 to $135, demonstrating optimism about SOL’s recent price movements and reinforcing its accumulation strategy.

On-chain data shows the trading history of this whale on HyperLiquid. Specifically, the whale first deposited about $8,039,604.25 USDC. Subsequently, the whale conducted cross-account transfers, moving $8.12 million USDC. Immediately afterward, the whale placed a SOL buy order. The order book shows four active limit buy orders totaling $7,999,999.73 (equivalent to 59,458.084 SOL).

SOL Accumulation Reflects Broader Market Trends

The SOL buy orders from this whale exhibit a strategic layered approach, aiming to gain liquidity within a narrow price range. This is a common tactic among high-volume traders seeking effective entry points. The whale’s activity aligns with broader market attention to SOL, which has experienced increased volatility and liquidity over the past few weeks. Additionally, the whale holds 427,441 HYPE tokens, valued at about $11.09 million. Market observers are closely watching how this move influences wider token accumulation trends.

HYPE-4.74%
SOL-0.18%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)