HYPE's price surged to $25, marking a nearly 5% increase, driven by significant whale activity. On-chain data reveals two wallets deposited $5 million in USDC to acquire HYPE tokens. One wallet now holds 214,497 HYPE valued at $5.44 million, while the other possesses 102,460 HYPE worth $2.61 million. Both wallets maintain substantial USDC reserves, indicating potential for further purchases. Hyperliquid Labs has refuted allegations of insider trading, clarifying that the wallets are linked to a former employee who departed in early 2024. As whale activity intensifies, the risk-to-reward ratio for HYPE appears increasingly favorable.