Million-Dollar Profit-Taking in This Altcoin: Another Whale Moves $16M to Exchanges!

Lookonchain reported that a wallet it said was linked to Hypersphere Ventures made $2.13 million in profit from selling HYPE. A separate whale sent $16.08 million worth of HYPE to two exchanges.

According to information shared by the on-chain data platform on September 28, the wallet linked to the investment firm sold 62,869 HYPE for approximately $5.78 million. Lookonchain calculated the profit from these transactions at $2.13 million. Since the wallet label in the post indicated a link to Hypersphere Ventures with a question mark, it has not been confirmed that the company directly made the transaction.

Another whale transfers tokens to two exchanges

The same post reported that a different address beginning with 0xc745 deposited 177,518 HYPE to OKX and Bybit. The graphic shows that the 90,518 HYPE sent to OKX was worth approximately $8.2 million, while the 87,000 HYPE sent to Bybit was worth $7.88 million.

The transaction seen for this second wallet was an exchange transfer totaling $16.08 million. While the tokens reaching exchanges raises the possibility of a sale, it does not show that the entire amount was sold. Thus, the report has two distinct parts: the wallet for which Lookonchain reported a sale and profit, and a separate whale that moved tokens to exchanges.

Text and graphic differ on purchase timing

Lookonchain wrote that the tokens reportedly sold at a profit had been purchased a month earlier. However, in the attached transaction history, HYPE transfers received by the wallet in question are labeled as having arrived both one month ago and two months ago. Therefore, it is not possible to definitively present the entire $2.13 million profit as a one-month return.