A Hyperliquid genesis allocation wallet moved 500,000 HYPE and deposited 211,001 HYPE to Coinbase, while estimated cumulative profit remained above $94 million and the address kept a large remaining position.
A large Hyperliquid genesis allocation holder has started taking profit on HYPE, with estimated cumulative profit above $94 million based on the reported wallet activity. The wallet initially received 819,335 HYPE and later bought 676,798 HYPE at an average price of $4.29, showing additional accumulation beyond its original allocation. About eight hours before the report, the address withdrew 500,000 HYPE and deposited 211,001 HYPE to Coinbase, indicating part of the position was being moved to an exchange. The source describes these transfers as profit-taking while noting the wallet still retains substantial HYPE exposure.