Bitcoin OG Garrett Jin Raises $HYPE Stack to 184,182 Tokens Worth $11M

Garrett Jin, the whale trader known on-chain as “Bitcoin OG 10/11,” has increased his HYPE token holdings to approximately 184,182 tokens worth roughly $11 million. He is still holding the entire position, with no sell signals detected on-chain.

Jin accumulated 145,050 HYPE tokens, valued at approximately $9.05 million, through spot purchases over a four-day period. He then placed a TWAP (time-weighted average price) order for an additional 39,940 HYPE worth roughly $2.44 million, bringing his combined position to approximately 184,990 HYPE.

The slight discrepancy between the 184,182 figure tracked in some on-chain snapshots and the 184,990 total derived from adding the two tranches likely reflects different snapshot timing. The $11 million valuation is consistent across multiple sources.

Hyperliquid ($HYPE) — 7-Day Performance

+26.68%

Price at time of accumulation: ~$60.16  |  All-Time High: $64.27 (May 24, 2026)

Source: CoinGecko

Jin’s use of a TWAP order is notable. Rather than executing a single large market buy that would move the price, he automated the purchase to spread it over time, a strategy typically used by institutional-grade traders managing slippage on large positions.

Who Is the “Bitcoin OG 10/11” and Why Does His HYPE Bet Matter?

The “Bitcoin OG 10/11” label refers to the October 10-11, 2025 market crash, when a Hyperliquid whale linked to Jin held a $735 million BTC short position and reportedly profited $190 to $200 million as prices crashed. That trade made him one of the most-watched wallets in on-chain analytics, tracked by Lookonchain under the hashtag #BitcoinOG1011short.

Jin is also the suspected former CEO of BitForex, a Hong Kong-based exchange accused of a roughly $56.5 million exit scam in February 2024. He has denied ownership of the tracked wallets.

His pivot from a massive BTC short to a concentrated, long-only HYPE position represents a directional bet on Hyperliquid itself. HYPE is the native token of Hyperliquid, a high-throughput on-chain perpetuals DEX that has climbed to a market cap of roughly $13.38 billion, ranking it #11 among all crypto assets.

The “still holding” detail is significant. Jin’s wallet has shown no distribution activity, suggesting this is not a short-term momentum trade but a conviction hold through a period when HYPE hit an all-time high of $64.27 on May 24, 2026, and has since pulled back modestly to $60.16.

Jin’s $88 Million Multi-Front Hyperliquid Exposure

The HYPE accumulation is only one piece of Jin’s current positioning. He simultaneously holds a 504.4 BTC long worth approximately $38.9 million and a 57,460 ZEC short worth roughly $38 million on Hyperliquid, with the ZEC position showing an unrealized loss of about $2.11 million.

Combined with the $11 million HYPE stack, Jin’s total active exposure on Hyperliquid sits at approximately $88 million across three directional positions. That level of concentration on a single venue is itself a signal of confidence in Hyperliquid’s infrastructure and liquidity depth.

This accumulation comes amid broader volatility in crypto markets. The Fear & Greed Index sits at 34, firmly in “Fear” territory, even as HYPE posted a 26.68% gain over seven days. Separately, traditional crypto markets have seen pressure, with Bitcoin ETF outflows hitting $75 million in a single day recently, underscoring a risk-off mood among institutional players.

What to Watch: Entry Price, Wallet Activity, and Protocol Catalysts

At roughly $11 million for 184,182 tokens, Jin’s implied average entry price sits near $59.70 per HYPE. With the token currently trading at $60.16, the position is marginally in profit but essentially flat, meaning any significant move in either direction will quickly shift the P&L picture.

On-chain watchers can track Jin’s wallet cluster directly. Hyperliquid’s transparent order book and on-chain settlement make future accumulation, distribution, or liquidation levels publicly verifiable, a feature that Lookonchain and Onchain Lens have used to provide real-time alerts on this wallet’s activity.

For context on the broader DeFi risk environment, security remains a concern across protocols. The recent Squid Protocol hack on Ethereum and Base that drained over $3 million highlights the operational risks that come with concentrated DeFi exposure, though Hyperliquid’s architecture differs significantly from cross-chain bridge protocols.

Whether Jin adds to his position, begins distributing, or adjusts his BTC long and ZEC short will provide the next signal. For now, the wallet remains fully loaded, and the TWAP order suggests systematic accumulation may still be ongoing.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.