Dormant HYPE Whale Awakens with $57.6 Million in Unrealized Profit

A dormant address holding over $57.6 million in HYPE tokens has reactivated after an 18-month period of inactivity.

The address initially withdrew 1.018 million HYPE from Gate exchange in early 2025, when the token was trading at $19.79 per unit, resulting in a total cost of around $20.15 million.

The tokens were staked, generating additional yield over time, and the current value of the 1.032 million HYPE is approximately $57.6 million, representing an unrealized profit of about $37.45 million, a gain of roughly 186% from the original investment.

The transfer to Coinbase Prime and FalconX suggests the holder may be preparing to liquidate a portion of the position or utilize it for other financial operations, such as over-the-counter (OTC) trading or collateral.