Key Points:
- Hyperliquid’s $HYPE token surged 1,000%, with 77% perps DEX market share.
- Trader 0x82d8 holds $37M in $HYPE.
- The trader continued to hold despite incurring a $7M unrealized loss.
Hyperliquid, one of the standout decentralized exchanges (DEXs) this year, was launched in 2023 and gained prominence in April 2024 after introducing spot trading. Its rapid asset listings and easy on-chain interface led to a wave of new users.
Hyperliquid launched its native token HYPE ($HYPE) in November 2024 and since then, it has appreciated by over 1,000% according to CoinMarketCap.
Hyperliquid at present holds 77% of the entire perps DEX market share according to Dune.
The trader 0x82d8 acquired approximately over $35 million worth of $HYPE tokens over 5 months. The following image highlights a few of the purchase transactions made by the trader.
After a five-month hold, during which the trader 0x82d8 $HYPE position briefly fell to $10.21 in early April, resulting in a temporary unrealized loss exceeding $7 million, 0x82d8 continued to maintain the position and ultimately realized significant profits later on. Below are the sell transactions executed by the trader-
At the time of reporting, the P&L for the trader was over $24 million according to Hyperdash.
0x82d8 continues to hold over 1.05 million HYPE tokens, valued at approximately $37 million, with an unrealized profit of over $68 million at the time of reporting.
