H dropped 83% over seven hours after seven wallets sold 249 million tokens in a wave of on-chain selling. On-chain analyst Ember initially said the sales generated $31.3 million in proceeds, including 17,800 ETH and 2,715 BNB, and that most of the tokens came from unlocks. Ember later added that, excluding 100 million H allegedly minted by a “hacker” one hour earlier, more than 200 million H sold in the preceding hours had been aggregated from nearly 300 wallets. Those wallets had received unlocked tokens two weeks earlier and tokens 11 months earlier, and all received gas transfers from Gate and Bybit three weeks ago. Large unlock-related sales can increase circulating supply quickly and intensify price pressure when liquidity is thin.