Mystery Whale Withdraws $18.96 Million in HYPE After Two Months of Accumulation

According to Lookonchain, the address accumulated about 472,700 HYPE worth roughly $18.96 million from Bybit and Kraken since March 1 at an average price near $38.

HYPE

Summary

A large unidentified holder accumulated about 472,700 HYPE worth roughly $18.96 million since March 1, according to Lookonchain. The blockchain analytics firm said the address withdrew the tokens from Bybit and Kraken at an average buy price of about $38. Based on the reported figures, the position is currently showing more than $1 million in unrealized profit.

Terms & Concepts
  • Whale: A crypto market participant with very large holdings that can influence market activity through sizable trades or withdrawals.
  • Withdrawal: The movement of tokens from a crypto exchange to an external wallet, often watched as a sign of holding rather than immediate selling.
  • Unrealized profit: A paper gain on an open position, calculated from the current market value minus the average purchase cost.