Whale Withdraws $122M Hype Ahead Of $11.9B Team Unlock

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Large cryptocurrency investors, or whales, are cashing out of Hyperliquid’s native token as concerns grow over an upcoming vesting schedule that could unleash about $11 billion worth of supply.

Whale wallet “0x316f” withdrew $122 million worth of Hyperliquid (HYPE) tokens on Monday, which were acquired for about $12 per token.

The whale was sitting on around $90 million of unrealized profit nine months after buying the tokens and is likely “selling for profit,” according to blockchain data platform Lookonchain.

The selling comes as the HYPE…



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Whale Withdraws $122M Hype Ahead Of $11.9B Team Unlock


Large cryptocurrency investors, or whales, are cashing out of Hyperliquid’s native token as concerns grow over an upcoming vesting schedule that could unleash about $11 billion worth of supply.

Whale wallet “0x316f” withdrew $122 million worth of Hyperliquid (HYPE) tokens on Monday, which were acquired for about $12 per token.

The whale was sitting on around $90 million of unrealized profit nine months after buying the tokens and is likely “selling for profit,” according to blockchain data platform Lookonchain.

The selling comes as the HYPE…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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