Whale Pulls $122 Million in HYPE Tokens Ahead of November Unlocks
An early whale profits from selling nearly 5 million HYPE tokens at a substantial gain, retaining a smaller but valuable position as the market awaits November token unlocks.
HYPE
Fact Check
The statement is strongly corroborated by at least nine independent sources, including major crypto news outlets like CoinMarketCap, Binance Square, and Bitget. The evidence consistently confirms that a 'whale' investor withdrew $122 million in HYPE tokens specifically in anticipation of a token unlock event scheduled for November.
Summary
A whale holding 5.07 million HYPE tokens sold 4.99 million for $228.76 million, securing a $148.63 million profit. The whale originally purchased the tokens 9 months ago for $16.23 each. Despite the massive sale, the wallet still holds 77,089 HYPE worth $3.37 million.
Terms & Concepts
- Whale: A term used in cryptocurrency markets to describe an individual or entity holding large amounts of a digital asset, capable of influencing market movements.
- HYPE Token: A cryptocurrency associated with the Hyperliquid project, subject to market trading and tokenomics events such as unlocks.