HYPE Price Crashes 9% As Hyperliquid Faces Outflows After ETH Whale Liquidation

Monicah W

HYPE Price Crashes 9% As Hyperliquid Faces Outflows After ETH Whale Liquidation

Hyperliquid’s native cryptocurrency HYPE has tanked by another 9% slipping to $12.54, as the network faces massive $160 million in outflows following the liquidation of the massive ETH long positions on the platform. The ETH whale liquidation event triggered a $4 million loss in the platform’s HLP Vault, triggering huge seeling pressure in HYPE price.

HYPE Price Drops As Hyperliquid Records $166M AUM Outflow

Following the liquidation of the ETH long positions, HYPE price has come under severe selling pressure in the last 24 hours. The recent 8% drop comes along with a 51% surge in daily trading volumes, shooting past $207 million. This shows that there’s a growing bearish sentiment around the altcoin as of now.

Hyperliquid experienced a significant net outflow of $166 million in assets under management (AUM) on March 12, marking the platform’s second-largest single-day outflow on record. The substantial outflow is believed to have been driven primarily by withdrawals from HLP Vault depositors in response to the losses.

Whale’s $340M ETH Long Position Triggers Liquidation

A high-leverage whale trade involving 175,000 ETH, valued at approximately $340 million, has led to significant market movements. The trader initially secured a floating profit of $8 million and closed 15,000 ETH before transferring 17.09 million USDC in margin back to their address.

However, following the margin withdrawal, the remaining 160,000 ETH long position was liquidated. The large liquidation size forced Hyperliquid HLP to assume the position at $1,915. The platform is now gradually unwinding the position to mitigate market disruption and manage associated risks.

In order to avoid the massive outflows and user panic, Hyperliquid stated that this wasn’t a part of the protocol vulnerability or a hacking incident. Instead, the user withdrew margin while holding unrealized profits, lowering their margin ratio and triggering liquidation. Despite a $4 million loss in the past 24 hours, Hyperliquid’s HLP maintains a total historical profit of approximately $60 million.

Is It Right Time to Buy the HYPE Dips?

Prominent crypto analyst CryptoGod John has expressed bullish sentiments for HYPE price, highlighting the current market conditions as a potential buying opportunity.

John noted that the token has retraced significantly since its earlier listing pump, entering what he describes as a strong support zone.

“Seen some drama on the timeline about it — but think this is a good area to scoop some while most hypetards who were loud at $20+ have now become very quiet,” John remarked.

HYPE Price
Source: Johnny

The post HYPE Price Crashes 9% As Hyperliquid Faces Outflows After ETH Whale Liquidation appeared first on CoinGape.

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Solana Whale Moves $72 Million in SOL to Coinbase, Fueling Fears of a Major Sell-Off

On Tuesday, a large Solana whale transferred 494,153 SOL—valued at approximately $72 million—to the Coinbase exchange, raising concerns over a potential sell-off. 

Large exchange inflows like this often signal impending selling pressure, putting SOL’s recent gains at risk.

$72 Million in SOL Hits Coinbase, Weighing on Market Sentiment

According to Whale Alert, a SOL whale transferred 494,153 SOL valued at $72 million to Coinbase Institutional on Tuesday. Significant exchange inflows such as this mean that large investors are moving their holdings from private wallets to exchanges, often signaling an intent to sell.

Solana Whale Activity.
Solana Whale Activity. Source: Whale Alert

This increased supply on exchanges can increase the downward pressure on the SOL price, especially if there is insufficient demand to absorb the selling. As a result, its price may decline in the near term, leading to further sell-offs.

Moreover, the coin’s negative weighted sentiment heightens the risk of this selloff. At press time, this key metric is below zero at -0.51.

Solana Weighted Sentiment.
Solana Weighted Sentiment. Source: Santiment

An asset’s weighted sentiment analyzes social media and online platforms to measure the overall tone (positive or negative) surrounding it. It considers the volume of mentions and the ratio of positive to negative comments. When weighted sentiment is positive, it indicates more positive comments and discussions about the cryptocurrency than negative ones.

On the other hand, when it is negative, the overall market sentiment is bearish, with more negative commentary and pessimism outweighing positive discussions about the asset. 

This trend can increase selling pressure in the SOL market, discourage new demand, and contribute to its price decline as traders react to the prevailing bearish outlook.

Will Solana Drop to $138 or Surge to $160?

At press time, SOL trades at $145.84. If the whale selloff prompts retail traders to distribute their coins, SOL’s price may plummet to $138.84.

Solana Price Analysis.
Solana Price Analysis. Source: Santiment

However, on the daily chart, SOL bulls appear ready to defend key levels. Readings from technical indicators, including the Parabolic SAR, suggest that buying momentum is gaining strength.

At press time, the dots that make up this momentum indicator rest below SOL’s price, offering dynamic support. When an asset’s Parabolic SAR is set up this way, it signals a bullish trend. It hints at the possibility of a rally in SOL’s price in the short term. If this happens, the coin could exchange hands at $160.34.

The post Solana Whale Moves $72 Million in SOL to Coinbase, Fueling Fears of a Major Sell-Off appeared first on BeInCrypto.

PI Coin Rebounds as Buying Momentum Rises: Can It Reclaim Its ATH of $3 Soon?

Following a period of decline, PI has rebounded and initiated an uptrend as buying activity gains momentum. 

The renewed buying pressure suggests that PI bulls are back in control, now setting their sights on reclaiming its all-time high (ATH).

PI Regains Strength as Key Indicators Flash Bullish

After it reached an ATH of $3 on February 27, PI saw a spike in profit-taking, which caused its price to plummet to a low of $1.51 by March 2. However, PI’s price has rebounded since then, indicating a shift in market sentiment as bulls attempt to regain dominance from the bears.

Key technical indicators, including the Balance of Power (BoP), highlight the growing strength of buyers in the market. At press time, this indicator is in an upward trend and at its ATH of 0.92. 

PI BoP.
PI BoP. Source: TradingView

An asset’s BoP measures the strength of its buyers and sellers by analyzing its price movements within a given period. When its value is positive, it indicates that buyers are in control, driving prices higher. 

This trend suggests that buying momentum is building. It reinforces PI’s current uptrend and increases the likelihood of the coin reclaiming its $3 ATH if demand continues to rise.

Furthermore, PI’s Chaikin Money Flow (CMF) confirms the uptick in the coin’s demand. This indicator, which measures money flows into and out of an asset, rests above the zero line at 0.08.

PI CMF
PI CMF. Source: TradingView

A positive CMF reading like this indicates strong buying pressure, showing PI is experiencing sustained capital inflows. This suggests that demand for the altcoin outweighs supply, hinting at more price gains.

Pi Network (PI) Faces Critical Resistance

On the four-hour chart, PI currently holds above support at $1.97. If demand strengthens, the altcoin could break above the resistance at $2.12 and reclaim its ATH of $3. 

PI Price Analysis.
PI Price Analysis. Source: TradingView

However, the decline in PI’s demand to absorb the climbing supply may put downward pressure on its price. So far this month, over 188 million PI have been distributed to over 1 million Pioneers.

If demand drops, PI could lose its recent gains and plummet below $1.62 to trade at $1.34.

The post PI Coin Rebounds as Buying Momentum Rises: Can It Reclaim Its ATH of $3 Soon? appeared first on BeInCrypto.