Hyperliquid drops 4% as whales take $5 million profit
Photo: CoinJournal
Key takeaways Hyperliquid (HYPE) fell 4% to approximately $78 on Friday, extending its pullback. Hyperliquid Strategies (PURR) has applied for futures commission merchant (FCM) registration to support regulated perpetual futures trading for US customers. Four large whale wallets reportedly realized a combined $5 million in profits after closing their HYPE positions, according to Santiment. Hyperliquid (HYPE) declined 4% on Friday, trading around $78 as profit-taking by large investors weighed on the token despite fresh developments surrounding the protocol’s potential expansion into the US derivatives market. The decline follows a rally that briefly lifted HYPE toward $97 before selling pressure returned.
Source: CoinJournal
