Whale pulls $40M from Binance and starts loading $HYPE on Hyperliquid!

On-chain data from HypurrScan shows wallet 0x92ea withdrew $40 million USDC from Binance before routing $10 million of that into Hyperliquid to accumulate HYPE tokens. As of the latest update, the wallet had already purchased 22,700 HYPE worth approximately $1.16 million, with buying still ongoing.

The scale of the Binance withdrawal — four times the amount deployed so far — suggests this could be the opening leg of a much larger position build. Moving $40M off an exchange and into a decentralised perps platform is a deliberate, high-conviction step, not a casual rebalance.

Hyperliquid has been attracting serious on-chain capital in recent months, and a whale of this size entering the native HYPE token adds a meaningful demand signal to watch. If the remaining $30M in dry powder follows into the same trade, the market impact could be significant.