Whales Sell $108 Million Worth of This Altcoin from Two Major Wallets

The activity of two large wallets holding Hyperliquid’s $HYPE token has become a topic of discussion for investors today. Lookonchain reported that the addresses it tracked sold approximately $108.81 million worth of $HYPE in total.

According to the platform’s statement, a wallet starting with “0x2685” liquidated 912,383 $HYPE tokens for approximately $82.09 million. It is estimated that these tokens were purchased about a month ago, resulting in a profit of over $10 million.

The second major transaction came from the address “0x648F”. This wallet reportedly sold 296,705 $HYPE for approximately $26.72 million. The profit calculated for the tokens purchased about 11 months ago was $16.5 million.

Thus, the total profit from the two addresses exceeded $26.5 million, according to Lookonchain’s cost calculations. The owners of the wallets and the reasons for their decision to sell were not disclosed.

The price of $HYPE surged from around $78 to over $97 this week. It’s believed that whale wallets benefited from this rise. However, despite the increase, $HYPE failed to break its all-time high of $97.98.

*This is not investment advice.