pvp.trade, a trading bot and copy-trading platform, has purchased $8.68 million worth of HYPE tokens, leveraging transaction fee rebates from the Hyperliquid ecosystem. The platform has acquired 421,000 HYPE tokens at an average cost of $20.60 each. As HYPE's price surged, the value of these holdings has climbed to approximately $24.34 million, yielding a floating profit exceeding $15 million.
Recently, pvp.trade redeemed 400,000 HYPE tokens from staking, valued at around $22.8 million. This move raises questions about whether the platform is engaging in profit-taking at current price levels. The Hyperliquid Builder Fees mechanism supports such acquisitions by allocating transaction fees to Builders whose products facilitate trading.
pvp.trade Acquires $8.68M in HYPE Tokens, Floating Profit Tops $15M
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