Whales Flock to Hyperliquid's HYPE and Chainlink (LINK) with Significant On-Chain Activity

A surge in on-chain activity from large investors has been observed in two altcoins. According to recent data, there is strong accumulation and selling activity in Hyperliquid's native token, HYPE. A whale purchased 40,000 HYPE tokens worth approximately $2.3 million from Coinbase today.

This is not the first time this whale has invested in HYPE, as it has increased its total holdings to 260,000 tokens through purchases made from Coinbase, Bybit, and other sources over the past two months.

The whale's current HYPE position is worth approximately $15.1 million at current prices.

A different whale was also observed selling 60,000 HYPE tokens in Hyperliquid, earning around $1.77 million in exchange for 31,560 HYPE tokens. Two TWAP orders for selling HYPE are still active in this wallet, with one worth approximately 40,000 HYPE or $2.1 million.

The same wallet also sent approximately 1.67 million USDC to Coinbase.

On the Chainlink side, a large investor transferred approximately 213,810 LINK tokens worth $1.87 million to their Gnosis Safe wallet. This transfer comes after withdrawing the aforementioned amount of LINK from Binance two weeks ago.