HYPE Hits a New All-Time High as Fresh Wallet Pulls $11.6M from Bybit!

Hyperliquid's native token HYPE has printed a new all-time high, with on-chain data pointing to a notable accumulation move behind the surge. A newly created wallet withdrew 198,534 HYPE — worth approximately $11.62 million — from Bybit in a single transaction, a pattern typically associated with conviction holders moving assets into self-custody rather than preparing to sell.

Fresh-wallet withdrawals of this size at an all-time high are a watched signal in crypto markets: they suggest a buyer who entered at or near current prices and immediately cold-stored the position, removing that supply from exchange circulation. Whether this represents a single large player or a coordinated accumulation move, the timing against a new ATH adds weight to the bullish read on HYPE's current momentum.