Arkham Reveals Suspected Grayscale Wallet Holding Nearly $10M in HYPE

Arkham identified a suspected Grayscale wallet holding nearly $10 million in HYPE as the token surged above $57.

Fridah Kangai
May 22, 2026
4:15 am

Fridah Kangai

Fridah Kangai is a dedicated crypto journalist with a sharp eye for market trends, blockchain innovation, and digital asset movements. She specializes in breaking down complex topics into clear, engaging stories for both seasoned investors and curious newcomers. With a passion for decentralization and a pulse on the ever-evolving crypto space, Fridah delivers timely, accurate, and insightful coverage. Her work bridges the gap between technology and everyday understanding in the world of cryptocurrency.

Arkham tracks suspected Grayscale wallet accumulating millions worth of HYPE tokens.
HYPE rallies above $57 as institutional speculation fuels strong market momentum.
Grayscale ETF speculation grows while Hyperliquid trading activity continues accelerating rapidly.

Institutional interest in Hyperliquid grew in the crypto market by the identification of a wallet that was said to be owned by Grayscale, containing nearly $10 million worth of HYPE tokens, by Arkham Intelligence. Currently, the wallet known as 0x61…4318 has 176,050 HYPE worth $9.84 million, according to Arkham. Furthermore, the address sent 149,100 HYPE valued at almost $7.49 million to the Hyperliquid System Address in recent trades.

The wallet’s activity instantly caught the eyes of the market due to the fact that it allegedly started to build up its HYPE wealth with a number of major trading firms and exchanges. Wintermute, FalconX, Coinbase and Flowdesk were the subject of the transactions, according to Arkham, which was while the position was being constructed. Furthermore, the timing further fueled speculation on Grayscale’s general interest in the Hyperliquid ecosystem. The Grayscale had previously filed with the SEC with regard to a proposed Delaware statutory trust structure that it set up for the HYPE exchange-traded fund.

Suspected Grayscale-Linked Address Accumulates Over $10 Million in HYPE

According to Arkham, an address (0x61…4318) suspected to be linked toGrayscale has accumulated tens of millions of dollars worth of HYPE over the past week via exchanges or OTC desks including Wintermute,… pic.twitter.com/sC48Yz4Nhh
— Wu Blockchain (@WuBlockchain) May 21, 2026

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HYPE Climbs Above $57 as Market Momentum Accelerates

Bullish momentum built up in the market for the HYPE as it continued to post gains during the most recent trading sessions. The token broke a psychological $50 barrier before rising to almost $57.10 in 24 hours. Hyperliquid’s stock price rose by almost 47% in the last seven days, according to market data, driving the market capitalization of its stock above $14 billion. As a result, Hyperliquid was one of the most successful major altcoins during the time.

Technical indicators also pointed to a continued rally, as the TradingView chart mentioned in the report showed HYPE trading above its 50-day, 100-day, and 200-day moving averages. In the meantime, the momentum indicators remained in overbought territory, yet they were in positive trend. Buyers held on to control above major support levels with the RSI at 77. Further, an increasing likelihood of institutional investment products pegged to HYPE remained to fuel bullishness on the asset.

The report from Arkham, which suspected a Grayscale-linked wallet, added to the market speculation about institutional exposure to Hyperliquid. Meanwhile, HYPE continued to climb above $57 as investors continued to demand the stock and bullish momentum persisted.

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