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Whale Wallet Receives $10.32 Million in HYPE Tokens from Galaxy Digital OTC

Onchain Lens reports that wallet 0xd4d received 465,000 HYPE tokens valued at $10.32 million, following previous losses on ENA holdings from Ethena Lab.

HYPE
ENA

Summary

On January 26, Onchain Lens reported that wallet 0xd4d received 465,000 HYPE tokens, worth $10.32 million, from Galaxy Digital OTC. The wallet previously received 56.12 million ENA tokens from Ethena Lab, which experienced a significant loss in value, now standing at $9.32 million, resulting in a paper loss of $15.44 million.

Terms & Concepts
  • OTC (Over-The-Counter) trading: Direct trading of financial instruments between parties outside traditional exchanges, often used for large volume cryptocurrency transactions.
  • Ethena Lab: A blockchain-based project known for issuing ENA tokens, which are used within its decentralized finance ecosystem.
  • Onchain Lens: A blockchain analytics platform that tracks cryptocurrency transfers and wallet activity across networks.