Hyperliquid Whales Scoop Up $35.9M in HYPE as ETFs See $5.29M Outflows

Hyperliquid-linked spot ETFs recorded another day of redemptions even as large holders continued to accumulate HYPE. SosoValue data shows HYPE spot ETF products posted $5.29 million in net outflows on September 9, following $12.96 million of outflows on September 8. The two-day pullback totals about $18.25 million, after a stretch of mostly positive flows in late August and early September. Despite the redemptions, cumulative net inflows were still $338.33 million as of September 9, with total ETF assets at $464.29 million and daily trading volume at $31.01 million. Price action was soft. HYPE traded in a $80.34–$86.99 intraday range, sliding from above $86 toward the lower end of the band. The token was last seen near $80.83 after a 6.4% daily drop and steady intraday selling, sitting just $0.49 above the day's low. Over the past seven days HYPE is down 1.9%, with a 14-day decline of 1.8%, while the 30-day performance remains up 45.7%. Whale activity moved in the opposite direction of ETF flows. Wallet 0x8e48 bought another 116,427 HYPE, valued at roughly $9.91 million. Arkham data indicates the address has accumulated 1.89 million HYPE worth about $159 million over eight months through Galaxy Digital and has staked the full amount. A second large holder, wallet 0x6436, purchased an additional 308,569 HYPE worth around $26 million on the day, lifting its total to 4.05 million tokens valued at approximately $322 million. This wallet also staked the entire position. Combined, the two purchases added 424,996 HYPE for an estimated $35.91 million. Arkham also flagged trader NMTD8 as holding a $16.46 million leveraged long in HYPE on Hyperliquid, using 10x leverage with a $62.52 entry price. With HYPE later rising 33% to $83.13, the position showed a reported $4.09 million gain. Arkham estimates the account's total value at $11.34 million, with $1.71 million in unrealized P&L across the portfolio. On the technical side, analyst George said HYPE failed to hold above the $86–$87 area, which now serves as near-term resistance. His next downside target sits below $81, with broader support marked around $77–$78. A move back above roughly $86.80 would weaken the bearish setup, while a push toward $89 would put a higher resistance zone back in play. George's chart referenced a price near $84, differing from the CoinGecko reading of $80.83, which would place HYPE below his first target area.