On-chain data indicates wallet 0x827c sent 115,453 HYPE worth about $6.33 million to Bybit, then later withdrew 85,714 HYPE valued near $5.37 million.
A wallet linked to Arthur Hayes appears to have reduced and then rebuilt a position in HYPE based on on-chain activity. The wallet, identified as 0x827c, transferred 115,453 HYPE worth about $6.33 million to Bybit, a crypto exchange, two days earlier at a stated price of $54.81. Around three hours before the report, the same wallet withdrew 85,714 HYPE valued at roughly $5.37 million. Such exchange deposits and withdrawals are commonly tracked as market signals because deposits can indicate intent to sell, while withdrawals can suggest assets are being moved back into self-custody.