Hyperliquid price drops, whale transfers $14.83 million from Coinbase Prime

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Hyperliquid prices follow whale withdrawals from Coinbase Prime

HYPE pledge tightens liquidity, while exchange supply rebounds

Hyperliquid prices trade at around US$80.80, down nearly 3%, while the US$78 to US$80 range constitutes an immediate support area.

The two related wallets withdrew 83,630 HYPE (worth US$6.69 million), raising their cumulative holdings in the past two weeks to US$14.83 million.

Bitwise added the 0x6183 address to the BHYP wallet list, supporting its association with a pledged balance of approximately US$74.9 million.

Bitwise reported that HYPE's total position was US$185.96 million, with a pledge ratio of 70%, while Coinbase deposits boosted supply.

Hyperliquid prices fell to around $80 on Saturday after two related wallets continued to increase their holdings in HYPE. Onchain Lens reported that 83,630 HYPEs worth approximately $6.69 million were withdrawn from Coinbase Prime at these addresses. These transfers brought its cumulative purchases in the past two weeks to 223,350 tokens worth approximately US$14.83 million.

Hyperliquid (HYPE) Price

Meanwhile, HYPE traded at around US$80.80, a 24-hour decline of 3%. After hitting an all-time high of $86.71 on August 28, the token traded between $78.60 and $84.94. Whale withdrawals and institutional pledges currently contrast to profit-taking in the crypto market.

Warsh's inflation rhetoric precedes the sell-off. This comparison now shapes the current market positioning.

Hyperliquid Price follows whale withdrawals from Coinbase Prime

Onchain Lens connects the two wallets through trading timing and capital flow. The addresses are 0xCa521B105133 cb3Ee 9903F85F6A51 ba46aF63 C12 and 0xa14DD0 DE933104d56A55D43F12e8c6Dc 5800411b. Their simultaneous withdrawals transfer tokens from escrow accounts to autonomous wallets.

Exchange withdrawals can reduce the tradable supply, but this does not prove the holder's intention. The wallets remain anonymous and no owner publicly confirms the connection.

Self-custody can also delay resale because holders must first deposit the token back on the exchange to gain liquidity. Market participants compare outflows and inflows to judge changes in net supply. This balance could shift quickly.

A new wallet received 440,000 HYPEs through FalconX, adding an institutional-sized transaction. At the same time, four wallets recently withdrew 675,000 HYPEs from Coinbase and subsequently pledged most of the assets. Onchain Lens estimates the value of the portfolio position to approximately US$53.92 million.

Whales buy $14.8 million in HYPE from Coinbase.

Two wallets (probably belonging to the same whale) withdrew 83,630 HYPEs (approximately US$6.69 million) from Coinbase Prime in minutes.

In the past two weeks, they have increased their holdings of 223,350 HYPE units (approximately US$14.83 million).

Address: ……

The trend of the token deviates from the flow of these large funds. Hyperliquid prices fell after hitting all-time highs, consistent with broader risk aversion. Warsh said the Fed needed clearer progress to achieve its 2 percent inflation target. His comments in Jackson Hole pushed up interest rate expectations and put pressure on Bitcoin and other risky assets.

Derivatives positions may have exacerbated this decline. HYPE open interest is close to $1.95 billion, while negative funding rates indicate crowded short-term positions. When spot prices break through critical levels, leveraged markets can trigger rapid liquidations.

Hyperliquid price support is currently between $78 and $80. A break below $78 on the daily line will expose the $73 to $75 area. Conversely, a rise above $84 would refocuse on the all-time high of $86.71.

HYPE pledges tighten liquidity, while exchange supply rebounds

Bitwise's official BHYP page includes 0x6183 AeCb22b09b4CB167F2B42 C611243 C7E74318 as one of the fund's three public wallet addresses. This listing supports the correlation of related reports without relying solely on behavioral clustering analysis.

Onchain Lens stated that an additional 188,790 HYPEs were commissioned at the address, valued at approximately US$15.19 million. Its observed pledge balance reached approximately US$74.9 million. This figure covers a listed address and is not a complete BHYP pledge position.

Bitwise reported on August 27 that it held 2,332,714 HYPEs in the trust valued at US$185.96 million. The manager also reported a pledge ratio of 70%. This ratio indicates that the total pledge value exceeds the balance attributable to a single 0x6183 wallet.

Bitwise's BHYP ETF pledged US$74.9 million in HYPE.

A wallet associated with Bitwise's BHYP Hyperliquid ETF pledged approximately $74.89 million in HYPE.

About two hours ago, it commissioned another 188,790 HYPEs (approximately US$15.19 million).

Address: 0x6183 AeCb22b 09b4 CB167F2B42C611243C7E74318

Hyperliquid prices also reflect the impact of HYPE pledges, which remove assets from instant transactions while the tokens remain committed. The verifier can then cancel the pledge. Bitwise said BHYP's goal is to pledge assets other than 30% of its liquidity reserves.

Hyperliquid prices now reflect demand from whales, funds, repo and traders. Bitwise said Hyperliquid spends 99% of its trading revenue on HYPE repos. This process creates sustained demand, but inflows of deposits may offset this effect.

Wallet associated with Multicoin deposited $59.04 million in HYPE with Coinbase Prime last month. Cumulative deposits since February have exceeded US$100 million. Such transfers may represent custody changes, liquidity management or preparations for sale. Blockchain records cannot distinguish between these motivations.

Current Hyperliquid price movements place $78 at the heart of the near-term structure. Bitcoin holding on to $77,000 may support consolidation between $78 and $84. New exchange deposits or a weakening of Bitcoin will increase pressure closer to the lower boundary. At the same time, continued HYPE pledges will keep part of the supply outside daily spot circulation.