Two whales sold a total of approximately $109 million worth of HYPE tokens, making more than $26.5 million in profit.
As Bitcoin and Ethereum declined, profit-taking by large investors drew attention in Hyperliquid’s HYPE token, which stood out with its rally. According to a post by Lookonchain dated October 31, two wallets sold a total of 1,209,088 HYPE for $108.81 million, tokens they had purchased at different times.
One sale involved tokens purchased a month ago, while the other involved assets held for 11 months. The two investors’ combined profit exceeded $26.5 million.
More than $10 million in profit in one month
The wallet starting with 0x2685 sold 912,383 HYPE for $82.09 million, tokens it had purchased a month earlier. The transaction, which took place about six hours before the post, brought the whale more than $10 million in profit.
The larger of the two sales came from this address, which alone accounted for approximately three-quarters of the total sale amount.
$16.5 million in gains after an 11-month wait
The second wallet, starting with 0x648F, sold 296,705 HYPE for $26.72 million, tokens it had purchased 11 months earlier. The sale, made about eight hours before the post, generated a profit of $16.5 million. Thus, despite selling fewer tokens, this investor made a gain equivalent to more than half of the sale proceeds on HYPE purchased long ago.
HYPE had made headlines the previous day after rising 15% and seeing its trading volume increase eightfold while Bitcoin and Ethereum declined. Now, sales by two large wallets—one cashing out an investment held for a month and the other an 11-month investment—are drawing attention in the same altcoin.
Not investment advice.