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The cryptocurrency market has seen a surge in on-chain activity from large investors. Recent data indicates strong accumulation and selling activity in Hyperliquid’s native token, $HYPE, while also showing millions of dollars in transfers in Chainlink ($LINK)-connected wallets.
According to on-chain data, a crypto whale bought another 40,000 $HYPE from Coinbase today, worth approximately $2.3 million.
It was stated that the wallet in question increased its total $HYPE holdings to 260,000 tokens through purchases made from Coinbase, Bybit, and other sources over the past two months. At current prices, the whale’s $HYPE position is worth approximately $15.1 million.
Another Hype Whale Goes on Sale
Another major investor reportedly invested 60,000 $HYPE in Hyperliquid and has begun selling.
The whale has so far earned approximately $1.77 million in exchange for 31,560 $HYPE. Additionally, it’s noted that two TWAP orders for selling $HYPE are still active in the wallet.
It was reported that one of the active orders is worth approximately 40,000 $HYPE, or $2.1 million, and has about 15 hours left to be completed.
The same wallet also sent approximately 1.67 million USDC to Coinbase.
On the Chainlink side, a different whale movement was observed. A large investor transferred approximately 213,810 $LINK, worth $1.87 million, to their Gnosis Safe wallet.
The whale withdrew the aforementioned amount of $LINK from Binance approximately two weeks ago. The transfer of the tokens from the centralized exchange to a self-custody platform like Gnosis Safe could be interpreted as an indication that the assets are not being held for short-term sale on the exchange. However, wallet transfers alone do not provide a definitive signal regarding an investor’s future transactions.
*This is not investment advice.