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BIT-Linked Wallet Deposits $17.3 Million in HYPE to HyperLiquid

The wallet connected to BIT, formerly Matrixport, moved 403,290 HYPE to HyperLiquid and sold part of the position for 4.238 million USDC, while retaining roughly $13 million in HYPE.

USDC
HYPE

Fact Check
All four sources consistently report the same on-chain figures: 403,290 HYPE deposited (~$17.3M), 100,000 HYPE sold for 4.238M USDC, and ~303,290 HYPE (~$13M) retained. The claim's numbers match the sources exactly. The primary data originates from Onchain Lens, an on-chain monitoring service, cited by both Odaily (479717) and PANews (019e0112). The follow-up PANews article (019e0518) further validates the initial event by reporting a subsequent sale from the same wallet. The only minor imprecision in the claim is describing the retained amount as 'roughly $13 million in HYPE,' which aligns with the sources' figure of ~$13M for 303,290 HYPE. No conflicting evidence was found.
Summary

A wallet linked to BIT, formerly Matrixport, deposited 403,290 HYPE valued at $17.3 million to HyperLiquid. It then sold 100,000 HYPE at $42.38, receiving 4.238 million USDC, and continued to hold 303,290 HYPE worth about $13 million. The transaction shows a partial reduction of exposure rather than a full exit, with proceeds parked in USDC, a U.S. dollar-pegged stablecoin.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin designed to maintain a value of about $1 per token.
  • HyperLiquid: A crypto trading platform associated with on-chain trading activity and token transfers.
  • Wallet: A blockchain address used to hold, send, and receive digital assets.