HYPE rallied to a new all‑time high near $65, standing out in a broadly weaker crypto market. Platform data shows a prominent trader known as “Garrett Jin” has been accumulating the token in recent days and has automated additional purchases, a signal that adds context to the price breakout.
Prominent Hyperliquid Trader Accumulates HYPE
According to on-chain and portfolio data tracked on Hyperliquid and Hypurrscan, a wallet labeled “Garrett Jin” bought 145,050 HYPE over the past four days for approximately $9.05 million. The same account has also placed a time-weighted average price (TWAP) order to acquire an additional 39,940 HYPE worth about $2.44 million.
TWAP orders execute incremental buys over set intervals to reduce market impact and avoid chasing short-term moves. The use of a TWAP suggests a deliberate, systematic build rather than a reactive trade following HYPE’s breakout.
The trader operating under the “Garrett Jin” moniker is widely followed after reportedly placing a $735 million short position in Bitcoin immediately before the October 10 market sell-off earlier in the cycle.
Portfolio Context: Active Multi-Asset Positions
The HYPE accumulation comes alongside sizable directional positions across other assets on Hyperliquid, indicating it is part of a broader, actively managed book rather than a standalone bet:
- Bitcoin (long): 504.4 BTC, valued around $38.9 million.
- Zcash (short): 57,460 ZEC, valued around $38 million, with an unrealized loss near $2.11 million.
- HYPE (accumulating): 145,050 tokens acquired (~$9.05 million) plus a TWAP order for 39,940 more (~$2.44 million).
In total, the data indicates roughly $77 million in active directional exposure across Bitcoin, Zcash, and HYPE, with HYPE being added systematically via an automated order.
HYPE Enters Price Discovery
Technically, HYPE has moved decisively above its prior record near $50, advancing to the $65 region amid rising trading activity. The daily chart shows momentum accelerating over the past two weeks after months of consolidation and a sequence of higher lows since March.
Volume expanded during the breakout, suggesting the advance is being supported by increased participation rather than thin liquidity. HYPE remains above its 50-day and 100-day moving averages, which are turning higher and acting as dynamic support. The 200-day moving average sits far below current levels in the mid-$30s, underscoring how extended the trend has become.
Near term, the $56–$58 zone — the area of the prior breakout — is a key support region for trend control. After a sharp expansion, volatility and profit-taking risk typically increase.
What To Watch
- Whether HYPE sustains support above the $56–$58 range.
- Progress and completion of the reported TWAP accumulation.
- Adjustments in the trader’s broader portfolio, particularly BTC and ZEC exposure.
- Liquidity and volume trends as HYPE navigates price discovery.
Data sources: Hyperliquid and Hypurrscan; price levels and portfolio notional values are approximate and subject to change with market conditions.