The price of $HYPE surged to $25, a nearly 5% increase, fueled by whale trading activity. On-chain data shows that two wallets deposited $5 million worth of the stablecoin USDC to purchase $HYPE. One wallet holds 214,497 units of HYPE ($5.44 million), while the other holds 102,460 units ($2.61 million). Both wallets have substantial USDC reserves to make further purchases. Hyperliquid Labs has denied the insider trading allegations, stating that the wallets belong to a former employee who left in early 2024. HYPE's risk-reward ratio appears favorable as whale activity intensifies.