Hyperliquid (HYPE) gained 13.99% in August, posting the strongest performance in the top 10 cryptocurrencies, far ahead of Solana (+4.26%) and Bitcoin (+2.07%). Despite this rebound, the token remains below its all-time high after a 21.94% decline, and HYPE ETF flows have stalled since August 10 after only two weeks of inflows. Large holder activity is divided: Monetalis converted 3.72 million UNI into 171,543 HYPE ($9.56 million), while one whale sold 923,743 HYPE ($53.02 million) and HyperLabs unlocked 433,025 HYPE deposited on exchanges. On derivatives markets, whales, sophisticated traders, and public figures hold net short positions, with a funding rate of 0.00125% per hour, or 10.95% annualized.
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