The holder transferred 1.032 million HYPE after redeeming staked tokens, with reports citing Ember Monitoring or EmberCN and indicating an unrealized gain of about $37.45 million, or 186%, at a $55.8 transfer price.
A large HYPE holder transferred 1.032 million tokens worth $57.6 million to Coinbase Prime and FalconX about one hour before the reports, ending a roughly 18-month holding and staking period. Reports from BlockBeats and Odaily, citing Ember Monitoring or on-chain analyst EmberCN, said the wallet had acquired or withdrawn about 1.018 million HYPE from Gate in early 2025 at an average price of about $19.79, then redeemed all staked tokens on July 31 before the transfer. At a $55.8 transfer price, the position was showing an unrealized profit of about $37.45 million, or 186%. The move to institutional venues may indicate preparation for trading, custody changes, or liquidity management, though no sale was confirmed.