Hyperliquid’s HYPE Token Soars 113% as Whale Drops $1B BTC Bet

HYPE surged 8.9% to $38.96 on May 25 as a whale trader made a massive $1 billion Bitcoin short and the platform saw record activity.

Arslan Butt•Monday, May 26, 2025•1 min read

Quick overview

HYPE surged 8.9% to $38.96 following a massive $1 billion Bitcoin short by whale trader James Wynn.
Wynn's aggressive trading strategies, including a recent $1.2 billion long position, have drawn significant media attention and increased on-chain activity for HYPE.
Social engagement for HYPE has skyrocketed, with 25.6 million total engagements and 21,000 mentions from unique creators, reflecting growing community interest.
Hyperliquid is positioning itself as a major player in decentralized derivatives, with record open interest exceeding $1.3 billion.

HYPE surged 8.9% to $38.96 on May 25 as a whale trader made a massive $1 billion Bitcoin short and the platform saw record activity. After a $1 billion Bitcoin short by trader James Wynn, known as “moonpig”, the decentralized derivatives exchange is in the spotlight. Wynn’s aggressive trading, including a recent close of a $1.2 billion long, has generated a lot of media attention and on-chain activity for HYPE.

Whale Trader’s $1B BTC Bet Moves Markets

James Wynn’s trading on Hyperliquid is high stakes DeFi derivatives trading. On Sunday he opened a $1 billion short Bitcoin position using 40x leverage, staking almost $50 million of his wallet via cross-margin. This followed his Saturday close of a leveraged $1.2 billion long which cut his historical profit by $17.5 million but positioned him for a short.

Short entry price: ~$107,077
Profit from short (estimated): $3 million
Liquidation threshold: $110,446 BTC price
Total Hyperliquid profits: $40+ million

This trade reversal in 24 hours shows Hyperliquid can support billion dollar leveraged bets and is attracting institutional traders and DeFi attention.

Social Buzz and DeFi Growth Fuels HYPE Rally

Hyperliquid’s growth isn’t just financial – it’s social. LunarCrush data shows HYPE’s social engagements jumped 24.3 million in one month to 25.6 million total, with 21,000 mentions from 5,600 unique creators. This surge in online activity reflects growing community interest and validates HYPE’s price move.

HYPE Token Price Chart - Source: Tradingview — HYPE Token Price Chart – Source: Tradingview

Key stats:

25.6 million social engagements (+24.3M monthly)
21,000 direct mentions (+17,300 monthly)
5,600 unique content creators (+3,900 monthly)
Record open interest over $1.3 billionWith these numbers and big leveraged trades and market cap growth Hyperliquid is becoming a major player in decentralized derivatives. The next few weeks will tell if this can be sustained through market volatility.

Hyperliquid’s growing ecosystem with whale traders and social buzz is making it a DeFi hub. HYPE is at $38.96, will this be a trend or a peak?

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.