Altcoin He Bought Rose Nearly 26-Fold: Whale Sends Millions of Dollars’ Worth of Tokens to Exchange!

A whale that bought HYPE at $3.50 about two years ago sent $11.77 million worth of tokens to Kraken over the past week after the price climbed to about 26 times that level.

According to data shared by Lookonchain, the whale spent about $902,000 on 257,928 HYPE in its initial purchase. The 131,421 HYPE it transferred to Kraken over the past week was worth about $11.77 million at the time of the transfers.

The stated value of $89.56 per token for these transfers is about 26 times the initial purchase price of $3.50. Lookonchain described the transfers to the exchange as the whale taking profits.

Whale Still Holds $12 Million Worth of HYPE

The post said the whale continues to hold 140,506 HYPE, a balance worth about $12.2 million. This means millions of dollars’ worth of tokens remain in the wallet despite the large transfers to the exchange.

Lookonchain shared an estimate of total profits exceeding $23 million for the position. However, the transferred tokens and remaining balance add up to 13,999 HYPE more than the stated initial purchase; the post does not explain which transactions account for the difference. Therefore, the total profit figure is being reported as the platform’s estimate.

The sale price of the tokens sent to Kraken, or how many were sold, was also not specified. At this stage, the size of the exchange transfer and the profit the whale has converted to cash are being treated separately.