Details
An address linked to Multicoin Capital has sold 607,000 HYPE tokens worth $37 million, realizing a profit of $18.8 million after a five-month holding period. On-chain analyst Yu Jin reported that the address transferred 395,000 HYPE to Coinbase four hours ago and initiated a withdrawal request for 211,000 HYPE staked on Hyperliquid. The tokens were originally purchased via Galaxy Digital OTC at $30 each five months ago, with 210,000 HYPE staked and 395,000 HYPE kept in the wallet. At the current HYPE price of $61, the sale yielded a significant gain. This large-scale profit-taking by a major investor could signal reduced confidence in HYPE's short-term upside, potentially increasing selling pressure and volatility. Traders should monitor further whale movements and market reaction for signs of a broader trend shift.
0
0
0
0