Crypto
Hype Whales Move to Exchanges While Treasury Continues Buying
A significant HYPE whale moved tokens to exchanges on September 28, depositing $16.08 million into OKX and Bybit. The same day, a separate wallet linked to Hypersphere Ventures sold 62,869 HYPE for about $5.78 million.
The distinction between the two events is crucial, as the exchange deposit does not necessarily mean the coins will be sold immediately. In fact, only the $5.78 million sale can be confirmed as a realized transaction.
In contrast, Hyperliquid Strategies' wallet continued to buy HYPE, acquiring 494,200 tokens worth approximately $45.8 million over a 16-hour period on September 25.