The Hyperliquid (HYPE) token surged to a new record price this week, outpacing much of the altcoin market with a 27% gain over the past seven days. HYPE touched an all time high above $97 before retreating to trade near $92.74 during recent sessions. Significant accumulation by large wallet holders has added momentum to the rally. Data from Arkham Intelligence showed one prominent holder purchased 373,730 HYPE, valued at roughly $36 million, during the last month. This wallet now owns approximately 4.7 million tokens with a total value close to $400 million.