Major Whale Wallets Accumulate XPL Following $10.5M HYPE Sale
A major crypto address adds over 62 million XPL to its holdings, continuing a pattern of large-scale purchases and facing a significant unrealized loss of $14.29 million.
USDC
HYPE
Fact Check
The statement is directly and strongly corroborated by multiple sources. Evidence 1, 9, and 11 all explicitly state that a whale wallet, identified as 0x8393, sold 249,999 HYPE tokens for $10.5 million and used the funds to purchase millions of XPL tokens. Evidence 2 further confirms the general trend of 'whale accumulation' of XPL.
Summary
An on-chain analysis reveals that a whale currently holds 62.148 million XPL, bought at an average price of $1.15. Despite an unrealized loss of $14.29 million, the whale's recent purchases include 24.295 million XPL for 33 million USDC and 37.854 million XPL for 38.525 million USDC, totaling 71.524 million USDC spent in the past few days.
Terms & Concepts
- XPL: A cryptocurrency token purchased in large quantities by whale wallets, as shown in the reported transactions.
- USDC: A U.S. dollar-pegged stablecoin used for transactions and trading within the crypto ecosystem.