bullish

Rally

Arkham

Grayscale

<ul>
 <li>Arkham identifies suspected Grayscale wallet accumulating millions worth of HYPE aggressively.</li>
 <li>HYPE surpasses $57 as institutional speculation strengthens bullish Hyperliquid market momentum.</li>
 <li>Technical indicators signal overbought conditions while buyers maintain strong upward control.</li>
</ul>
Arkham Intelligence has identified a wallet allegedly linked to Grayscale holding nearly $10 million worth of HYPE tokens as <a href="https://36crypto.com/hyperliquid-etf-inflows-jump-as-institutions-increase-hype-exposure/" rel="noopener noreferrer nofollow">Hyperliquid’</a>s native asset continued climbing above $57. According to Arkham, the wallet identified as 0x61…4318 currently holds 176,050 HYPE valued near $9.84 million. Additionally, the address transferred 149,100 HYPE worth approximately $7.49 million to the Hyperliquid System Address. 
The activity quickly attracted market attention because the wallet reportedly acquired HYPE through institutional trading firms and major exchanges. According to Arkham, the transactions involved Wintermute, FalconX, Coinbase, and Flowdesk during the accumulation process. Consequently, traders interpreted the movement as possible institutional positioning instead of ordinary retail buying. Large OTC-related transfers often signal concentrated accumulation by major market participants. 
Moreover, the wallet activity surfaced while Grayscale continues pursuing a regulated investment product tied to Hyperliquid. A previous SEC filing showed that Grayscale established a Delaware statutory trust connected to a proposed HYPE ETF structure. That filing described the product as an investment vehicle designed to hold HYPE, the native asset powering the Hyperliquid Network. As a result, traders increasingly linked the on-chain activity to broader institutional interest surrounding Hyperliquid. 
<div id="attachment_71294" class="wp-caption alignnone"><img src="https://36crypto.com/wp-content/uploads/2026/05/HI0rci9aMAAkqkt-convert.io_-400x128.webp" alt="hype" width="1366" height="437" title="Arkham Flags Suspected Grayscale HYPE Wallet as Token Rally Breaks $57 2">
 Source: <a href="https://x.com/WuBlockchain/status/2057348384479178851?s=20" rel="noopener noreferrer nofollow">X</a>
</div>
Also Read: <a href="https://36crypto.com/moonpay-institutional-expansion-grows-with-decent-xyz-acquisition-push/" rel="noopener noreferrer nofollow">MoonPay Institutional Expansion Grows With Decent.xyz Acquisition Push</a> 
<h2 id="hype-extends-momentum-as-buyers-push-above-key-resistance">HYPE Extends Momentum as Buyers Push Above Key Resistance</h2>
HYPE maintained strong upward momentum during the latest trading sessions as buyers pushed the token beyond the psychological $50 level. At press time, the asset traded near $57.10 after recording more than 14% gains within 24 hours. The rally also strengthened HYPE’s weekly performance. Market data showed the token gained nearly 47% during the past seven days. Consequently, Hyperliquid’s market capitalization climbed above $14 billion as investor demand accelerated. 
Technical indicators also reflected sustained bullish momentum across higher timeframes. According to the TradingView chart referenced in the report, HYPE traded above its 50-day, 100-day, and 200-day moving averages. Meanwhile, momentum indicators continued showing elevated buying pressure despite increasingly overbought conditions. The Relative Strength Index reached 77, signaling aggressive market demand as buyers maintained control above major support levels. 
<div id="attachment_71293" class="wp-caption alignnone"><img src="https://36crypto.com/wp-content/uploads/2026/05/image-477-convert.io_-400x203.webp" alt="hype" width="1251" height="634" title="Arkham Flags Suspected Grayscale HYPE Wallet as Token Rally Breaks $57 3">
 Source: <a href="https://www.tradingview.com/x/exlX5Eic/" rel="noopener noreferrer nofollow">Tradingview</a>
</div>
Additionally, speculation surrounding institutional exposure continued supporting bullish sentiment around Hyperliquid. Traders now remain focused on whether Grayscale could advance its proposed HYPE investment product in coming months. Arkham’s report involving a suspected <a href="https://36crypto.com/grayscales-hype-etf-filing-sparks-massive-institutional-crypto-frenzy/" rel="noopener noreferrer nofollow">Grayscale-linked</a> wallet strengthened speculation surrounding institutional interest in Hyperliquid. At the same time, HYPE extended its rally above $57 as strong momentum continued driving investor demand. 
Also Read: <a href="https://36crypto.com/dogecoin-co-founders-20-trillion-joke-ignites-massive-crypto-market-buzz/" rel="noopener noreferrer nofollow">Dogecoin Co-founder’s $20 Trillion Joke Ignites Massive Crypto Market Buzz</a> 
The post <a href="https://36crypto.com/arkham-flags-suspected-grayscale-hype-wallet-as-token-rally-breaks-57/" rel="noopener noreferrer nofollow">Arkham Flags Suspected Grayscale HYPE Wallet as Token Rally Breaks $57</a> appeared first on <a href="https://36crypto.com" rel="noopener noreferrer nofollow">36Crypto</a>.

Arkham Flags Suspected Grayscale HYPE Wallet as Token Rally Breaks $57

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