Investment Giant Paradigm Allegedly Has a Whopping $765 Million Investment in This Altcoin

Cryptocurrency investment giant Paradigm may allegedly hold approximately $765.4 million worth of $HYPE tokens.

According to Onchain data, wallets believed to belong to Paradigm hold a total of 19,134,900.46 $HYPE. These assets, with an average purchase price of $16.46, are estimated to have cost approximately $315 million and are currently generating approximately $450 million in profit.

While Paradigm hasn't officially shared any wallet addresses, on-chain analysis account mlmabc notes that the investor made his initial purchases through FalconX and continued his purchases through Wintermute starting in November. The timing and nature of the large $HYPE withdrawals from FalconX wallets has reinforced suspicions that these addresses may belong to Paradigm.

At the time of writing, $HYPE is trading at $38.05, 23% off its all-time high. The token is down 12% in the past week.

*This is not investment advice.