HYPE Whales Unstake Millions Amid Hyperliquid Revenue Surge

Hype is drawing attention after large HYPE holders unstaked millions of tokens, including one wallet that withdrew 1.02 million HYPE and another that transferred 1.89 million HYPE worth about $105.9 million to institutional brokers.

This move is often associated with over-the-counter sales, which may indicate a change in market sentiment for the protocol.

In contrast to the whale activity, the Hyperliquid protocol generated $1.18 million in daily fees and burned 18,180 HYPE tokens, helping lift total revenue above $1.21 billion while removing 47.5 million HYPE from circulation.