On September 22, TradingBeats monitoring showed HYPE on Hyperliquid at $93.40, down about 0.40% over the past 24 hours, with open interest by notional value at about $2.034 billion. According to BlockBeats On-chain Detection, large orders were concentrated around several key price ranges after excluding bid-ask spread candidates.
On the sell side, the main near-term concentration was between $96 and $100, where 12 addresses held about $21.273 million in sell orders covering 217,100 HYPE, or roughly 2.8% to 7.1% above the current price. About $17.975 million of that reflected planned reductions in existing long positions, while about $3.299 million came from additional sell orders tied to existing short positions. Other notable sell orders included $3.682 million at $96 to $100 from 0x0fac..., which also left about $150,000 in take-profit orders at $95; $3.654 million at $96 to $98 from 0xdafc..., which added 25 "reduce-only" sell orders at 09:43 today covering its entire 37,600-token long position; $3.001 million at $97 from 0x2e2b..., which plans to cut about 30,900 tokens; and $2.94 million at $98 from 0x51f3..., which plans to sell 30,000 tokens. Another seven smaller addresses in the $96 to $100 range accounted for about $7.997 million, including the short-position add-on orders. The largest single address represented about 17.3% of the range, indicating a relatively dispersed sell plan. Farther out, seven addresses placed about $8.699 million in sell orders at $102.4 to $110, and three addresses placed $6.82 million in sell orders at $122.25 to $123.
On the buy side, $83 to $87 was the main dip-buying zone, while $77 to $81 was identified as a short-covering area. At $91.22, 0xf1e2... added a $1.474 million reduce-only buy order covering its entire short position of about 16,200 tokens, roughly 2.3% below the current price. Between $83 and $87, three addresses held about $12.546 million in buy orders, 6.9% to 11.1% below the current price. Of that, 0x65a0... placed 50 orders worth about $8.019 million to add roughly 94,300 tokens, about 1.43 times its current long position of 66,100 tokens. Another $4.528 million came from 0x939f... and 0x325e..., mainly intended to close shorts. Between $77 and $81, three addresses held about $18.559 million in buy orders, with 0x939f... at about $10.514 million, 0x37b8... at about $7.64 million, and 0x325e... at about $405,000; all three currently hold short positions.
When the range is widened, 0x939f... and 0x37b8... together left about $37.975 million in buy orders across $72 to $85, mainly waiting to buy back on a pullback. Their short costs were about $63.95 and $65.41, respectively, and the $77 to $81 orders were included in that range. Outside these levels, estimated liquidation lines near $88.89 to $88.95 included two long positions totaling about $9.867 million from 0x1add... and 0x61bf..., while 0x37e5... placed about $1.333 million in long stop-loss orders at $88.89.