A large holder deposited 60,000 HYPE into Hyperliquid and has already sold 31,560 tokens for $1.77 million, according to on-chain tracking by Onchain Lens. Two time-weighted selling orders remain active, including one for 40,000 HYPE valued at about $2.1 million with around 15 hours left to run. The same wallet also sent about 1.67 million USDC to Coinbase, indicating continued fund movement alongside the HYPE sales.