Hyperliquid Strategies Inc Buys 494,200 $HYPE ($45.8M) in 16 Hours, 5.51M Monthly

Beating AI News Flash: OpenAI is reportedly developing a pricier ChatGPT Pro Max subscription plan, priced at $500 per month. Developers discovered the Pro Max plan in ChatGPT’s undisclosed subscription configurations, and TestingCatalog later revealed that its benefit description currently reads “Fastest Work and Codex.” The $500 price is 2.5 times higher than ChatGPT’s current top-tier $200 Pro plan. However, no full quota details, models, or other additional benefits have been found in the code so far, and it remains unclear how much faster the “fastest” performance will be.

Prominent crypto trader Bonk Guy has published a post addressing public skepticism over his long-term refusal to sell tokens, with some speculating his holdings may be linked to market makers or funds. He explained that holding high-conviction assets long-term is his trading strategy, adding he does not believe a token’s price rally requires it to be sold, and his holding period differs from that of other market participants. In the previous market cycle, some mainstream meme coins reached market caps of over $1 billion, while top-performing meme coins and protocols hit valuations of $4 billion to more than $5 billion. He anticipates the current cycle could deliver stronger performance, so he is in no rush to offload his core holdings right now. He noted that PONS is the highest-conviction utility token in his portfolio, with a current market cap of roughly $400 million; USELESS is his most favored meme coin, boasting a market cap of around $270 million. Both tokens have yet to reach a $1 billion market cap, and their valuations are significantly lower than those of leading projects in the previous cycle.

Per HTX market data, Backpack’s native token BP has surged past $1.27 to hit a new all-time high, trading at $1.277 as of press time, with a 24-hour gain of 48%. The rally is driven by recent positive news: the SEC’s approval of limited tokenized stock trading on on-chain platforms. On July 10 this year, Backpack announced the launch of a 24/7 real US stock trading market for international investors, allowing eligible users to trade and hold actual US stocks around the clock, rather than synthetic derivatives. Backpack stated that the platform offers actual equity ownership, leverages liquidity from traditional trading venues, and supports instant settlement, continuous price discovery, as well as fiat and stablecoin settlements. For more details, see the report titled "Why Did BP Suddenly Surge? Backpack Is Gaining a New Valuation Logic".

Per Lookonchain’s monitoring, wallet 0x6436 associated with Hyperliquid Strategies has purchased 494,200 HYPE tokens (valued at approximately $45.8 million) over the past 16 hours. Over the past month, the wallet has accumulated a total of 5.51 million HYPE tokens (worth around $476 million), averaging 183,574 HYPE (about $15.86 million) in daily purchases. Hyperliquid Strategies currently holds a total of 35.1 million HYPE tokens, with a value of roughly $3.2 billion.

According to on-chain detective Specter’s monitoring, by tracing on-chain fund flows, North Korean hacking group Lazarus Group is suspected to be the behind-the-scenes attacker of the Bitget theft. The incident is linked to the AFX attack that occurred in July this year, which caused approximately $24 million in losses and was attributed to TraderTraitor, an entity associated with Lazarus Group. The stolen XRP from Bitget, after cross-chain transfers, has a fund trail directly connected to the funds stolen in the AFX attack.

According to Lookonchain monitoring, the total value of assets stolen in the Bitget attack is approximately $356.86 million. The stolen funds are primarily composed of 102,926,478 XRP (worth $157.48 million) and 31,890 ETH (worth $85.75 million), which account for the majority of the lost assets. Other stolen assets include 34,751,168 USDT ($34.75 million), 21,056,725 USDC ($21.06 million), 19,668,852 USD?0 ($19.67 million), 3,000 XAUt ($12.82 million), 12,719 BNB ($9.88 million), 821,012 AVAX ($8.38 million), and 20,593,377 TRX ($7.07 million).