According to on-chain data, following market volatility, whales made approximately $292 million in dip-buying trades, primarily through the Hyperliquid platform. Bitcoin (BTC) and Ethereum (ETH) were by far the main targets, accounting for approximately 78.55% combined, while the remaining funds were spread across 9 altcoins.
Main destinations for fund flows
• Bitcoin (BTC) and Ethereum (ETH): Accounted for the vast majority of new long positions and were the primary targets of whale dip-buying.
• 9 altcoins: The remaining approximately 21% of funds flowed into these assets, but the specific coins were not detailed in the data.
Other assets bought by related whales during the dip
In addition to the activity on Hyperliquid mentioned above, other whale addresses have recently bought the dip in the following assets:
• $PEPE : A whale address withdrew about $4.44 million worth of PEPE from Binance and deposited 8.67 million USDC into Hyperliquid to buy HYPE.
• $HYPE : A whale address bought 140,145 HYPE (worth about $5.5 million) and simultaneously went long on BTC and HYPE.
• cbBTC and $ETH : Another “swing whale” bought the dip after the market plunged, accumulating 4,000 cbBTC (about $295 million) and 83,392 ETH (about $204 million).
Note that some of the data above comes from different monitoring platforms and whale addresses, and may reflect multiple independent dip-buying activities.