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Whales Cash Out $30M in HYPE Token Amid Rally, Signaling Potential Shift
Whales Cash Out $30M in HYPE Token Amid Rally, Signaling Potential Shift
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BTCCSquare news:
Hyperliquid's native token HYPE faces profit-taking pressure as four major wallets offloaded nearly $30 million worth of holdings during its mid-$50s trading range. The sales, tracked by Lookonchain, included a $10.6 million dump by qianbaidu.eth and three other multi-million dollar disposals between $55.53-$56.01 per token.
The sell-off contrasts sharply with earlier accumulation patterns, including qianbaidu.eth's prior 431,000 HYPE purchase at $47.70. Current trading volumes remain robust with hundreds of millions in reported activity, though price momentum has slowed to single-digit percentage moves.
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