According to on-chain data per Arkham, a whale staked 557,902 HYPE ($32.87 million) on Hyperliquid on Saturday after receiving the tokens from FalconX, an institutional liquidity provider. The transfer moved directly into a staking position, suggesting a long-term commitment rather than short-term trading activity.
HYPE has traded near $57-59 as of Saturday, down approximately 24% from its all-time high of $76.67 on June 16. Despite the pullback, total staked HYPE has climbed toward 436 million tokens amid rising institutional staking activity.