While the general cryptocurrency market has experienced a decline in certain altcoins, one asset appears to be drawing the substantial attention of major investors: $HYPE. Even though the token is now down to the lower end of its range, cryptocurrency “whales”—individuals or entities that hold large amounts of crypto—are making some impressive moves. They’re depositing millions of dollars in USDC (a stablecoin that holds its value against the U.S. dollar) into Hyperliquid, a decentralized exchange, and using that capital to purchase $HYPE. These large and apparently well-coordinated buys have propelled Hyperliquid to its highest trading levels of 2023. A Contradiction
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