HYPE is trading above $60, even though the recent market selloff has pushed most crypto assets into significant losses over the past few days. This relative strength stands out — but data from Arkham Intelligence shows a series of large institutional transactions over the last several hours that turn this price resilience from an interesting observation into a clear behavioral signal.
Related Reading: Bitcoin Falls Below $66K As Short-Term Holder Stress Reaches February Levels
Eight hours ago, three new wallets withdrew a total of 557,406 HYPE tokens — worth about $40.2 million — from Kraken and immediately staked the entire amount. The decision to stake is what sets these withdrawals apart from routine portfolio management. Tokens staked right after being pulled from an exchange are being committed to the network’s validator infrastructure, not held for short-term trading or sale. The intent is clear in the action.
Six hours ago, another new wallet withdrew 180,000 HYPE — worth roughly $13.3 million — from Coinbase. That’s a second major exchange withdrawal happening in a short time frame. Four new wallets. Four separate transactions. Over $53 million in HYPE was taken from two of the most regulated and closely watched exchanges in the world — Kraken and Coinbase — within an eight-hour window, all during a market selloff when most participants were moving in the opposite direction.
The accumulation isn’t slowing down. It’s coming from new players, at new exchanges, with the same strong conviction that has marked every institutional HYPE transaction this series has tracked.
761,000 HYPE in Three Days
The Arkham data shows just how much wallet 0x6436 has been building since it first appeared in the flow data three days ago. That address has now withdrawn a total of 761,357 HYPE tokens — worth about $55.4 million — from exchanges over that short period. This is a steady, multi-session accumulation that has continued through the broader market selloff without stopping or reversing.
HYPE Whale Activity | Source: Arkham
The three-day window is what separates a big one-time transaction from a deliberate accumulation strategy. A single withdrawal could be about rebalancing, moving funds to custody, or any number of operational decisions that don’t necessarily show a clear market view. But three straight days of withdrawals from exchanges — building up to $55.4 million in total exposure — point to a participant who made a decision about HYPE and has been following through on it systematically, no matter what the broader market was doing.
The timing makes the signal even stronger. The Bitcoin drop, the broader altcoin selling pressure, and the uncertainty that has shaped market sentiment over the past week created exactly the kind of environment where most people reduce their exposure instead of building it. Wallet 0x6436 used that environment to accumulate over $55 million in HYPE across three days.
Combined with Galaxy Digital’s withdrawals, the three Kraken wallets staking $40.2 million, and the Coinbase withdrawal of $13.3 million — all happening in the same short window — the institutional accumulation of HYPE during this selloff has reached a scale that the broader market hasn’t yet fully reflected in the asset’s current price.
Related Reading: Smart Money Keeps Buying HYPE Despite Rising Market Fear – Price Holds Above $70 Level
HYPE Bulls Defend $65 After Rejection From New Highs
HYPE is going through its first real pullback after an explosive rally that pushed the token to new all-time highs near $75. The daily chart shows a sharp drop from that recent peak, with the price falling almost 13% in a single session and closing near $65. While the move looks aggressive, it comes after a nearly non-stop climb from the $40 area in May.
HYPE bulls try to hold the $65 level | Source: HYPEUSDT chart on TradingView
Despite theHowever, the broader trend remains strongly bullish. HYPE is still trading well above its 50-day, 100-day, and 200-day moving averages, all of which are sloping upward and confirming solid long-term momentum. The 50-day moving average near $49 has become the first major dynamic support level and remains far below the current price.
Volume adds important context. The rally to the highs was supported by a steady increase in trading activity, pointing to genuine demand rather than just a speculative spike. But the recent selloff also came with high volume, suggesting some profit-taking after the parabolic rise. The key level to watch now is the $64–$65 zone. This area matches the breakout point that triggered the final leg higher and is now acting as immediate support. If bulls can defend this level, HYPE could form a higher low before making another attempt at the $75 all-time high. A deeper pullback would likely target the $58–$60 range, where previous resistance could turn into support.
Featured image from ChatGPT, chart from TradingView.com
Frequently Asked Questions
Here is a list of FAQs based on the scenario you described covering beginner to advanced perspectives
General Definition Questions
Q What is HYPE
A HYPE is a cryptocurrency token In this context its the asset that is holding its price well despite a broader market downturn
Q What does it mean that HYPE is holding strong during a selloff
A It means that while most other cryptocurrencies are dropping in price HYPEs price is staying relatively stable or only falling slightly This suggests strong buying pressure or confidence in the project
Q Who are whales in crypto
A Whales are individuals or entities that hold a very large amount of a specific cryptocurrency Their actions can significantly move the market
Benefits Mechanics
Q Why is it a good sign that whales are pulling HYPE off exchanges
A Its generally bullish When whales move tokens from exchanges to private wallets it reduces the available supply for trading Less supply usually means less selling pressure which helps support the price
Q How does 108 million leaving exchanges help HYPEs price
A That 108 million worth of HYPE is now out of reach for quick panic selling This creates a supply shock effectthere are fewer coins available to buy so if demand stays steady the price should hold up better than other coins
Q Is it always a good thing when whales accumulate
A Usually yes It shows confidence from the most knowledgeable investors However it can also mean they are controlling the supply to sell later at a higher price so its not a guarantee
Common Problems Risks
Q Can HYPE still crash even if whales are buying
A Yes Whales can be wrong or they might be buying to create a pump before dumping on retail investors Also a broader market crash can overwhelm any single assets support
Q If whales are pulling out 108 million doesnt that mean they are selling