Hyperliquid HYPE holds key support as TVL tops $6B and whales add millions

Hyperliquid's HYPE token has begun to diverge from broader altcoin weakness as it trades near $26.71 while many major peers extend their drawdowns. The protocol's TVL has climbed from near zero in early 2024 to above $6 billion by late 2025, alongside recurring protocol fees between $6 million and $12 million and growing whale accumulation through OTC desks, including a recent $6.06 million purchase.