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New Wallet Withdraws $11.62 Million in HYPE From Bybit at Record High

New Wallet Withdraws $11.62 Million in HYPE From Bybit at Record High

According to Onchain Lens, a newly created wallet, previously described as Anchorage-linked, withdrew 198,535 HYPE from Bybit as the token hit a record high, adding to a month-long accumulation and staking pattern.

HYPE

Fact Check
Every specific figure in the claim — 121,099 HYPE withdrawn, $5.87M value, 2.34 million HYPE accumulated, ~$112M total value, and staking of the tokens — is confirmed identically across five independent sources. The primary source is the @OnchainLens X post (May 20, 2026), an on-chain monitoring account that cited the specific wallet address (0x4c6B8e7D1A5DEc99AA726240e1957F8Df657f828, verifiable on Arkham Intel). This is corroborated by Lookonchain, Coinness, Odaily, and PAnewslab, all published on May 20, 2026. The only minor nuance is that the claim rounds $112.36M to '$112 million', which is accurate. The claim accurately summarizes the on-chain event as reported.
Summary

According to Onchain Lens, a newly created wallet withdrew 198,535 HYPE worth about $11.62 million from Bybit as HYPE reached a new all-time high. Earlier reports on the same wallet described smaller withdrawals of 121,099 HYPE worth about $5.87 million and 85,226 HYPE worth about $4.08 million, suggesting either additional transfers or revised accounting over time. Over the past month, the wallet was also reported to have accumulated between 2.22 million HYPE worth about $105.8 million and 2.34 million HYPE worth about $112 million. One report further stated that the tokens were staked, indicating movement from exchange custody into longer-term positioning rather than remaining on Bybit for immediate trading.

Terms & Concepts
  • staking: A process of locking crypto tokens to support a blockchain network or related protocol in exchange for rewards.
  • On-chain monitoring: The practice of tracking blockchain transactions and wallet activity using publicly visible ledger data.
  • Exchange withdrawal: A transfer of crypto assets from a trading platform to an external wallet, often monitored for liquidity, custody changes, and investment positioning.