Wallet Tied to Grayscale Reportedly Adds Nearly $17.33M in Hyperliquid (HYPE)

A wallet said to be connected to Grayscale accumulated Hyperliquid's HYPE tokens via major trading firms and OTC routes, sparking one of the token's largest rallies in months. On-chain activity showed about 176,050 HYPE worth nearly $9.84 million moved in, while more than 149,000 HYPE valued around $7.49 million was sent to the Hyperliquid System Address. After the activity surfaced, HYPE pushed above $50 and traders began focusing on the $50-$52 area as a key support zone.