Galaxy Digital, New Wallet Withdraw $22.4 Million in HYPE From Coinbase

According to the latest figures, Galaxy Digital and wallet 0x6436 have accumulated or withdrawn 539,500 HYPE worth about $41.54 million, highlighting continued large exchange outflows in the token.

HYPE

Summary

Galaxy Digital and wallet 0x6436 have accumulated or withdrawn a combined 539,500 HYPE worth about $41.54 million, extending earlier reported HYPE outflows from Coinbase. Galaxy Digital withdrew 179,000 HYPE worth $12.62 million from Coinbase over the past seven hours, while address 0x6436 withdrew 135,800 HYPE worth $9.73 million. The new report also states that wallet 0x6436’s two-day total reached 399,700 HYPE worth $28.92 million. The activity points to continued large-scale HYPE movements off exchange, though no motive for the transfers was provided.

Terms & Concepts
  • Exchange outflow: A transfer of tokens from a trading platform to an external wallet, often monitored as a sign of custody changes or accumulation.
  • Wallet: A blockchain address or application used to store, send, and receive digital assets.