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.
