📉 On-chain activity: a16z-linked entity transfers $15.02 million worth of HYPE to exchanges in 5 days
According to on-chain data, HYPE’s largest external entity (an a16z-linked entity) is accelerating its transfers of tokens to exchanges.
▶︎ Latest move: Deposited another 32,862 tokens at 83.5 to an exchange.
Based on this cost basis, if the tokens deposited by the entity over the past 5 days are sold, the expected profit would be $1.08 million. With large amounts of tokens continuing to flow into exchanges, be alert to potential short-term selling pressure and a pullback in HYPE.
$HYPE #HYPE
According to on-chain data, HYPE’s largest external entity (an a16z-linked entity) is accelerating its transfers of tokens to exchanges.
▶︎ Latest move: Deposited another 32,862 tokens at 83.5 to an exchange.
Based on this cost basis, if the tokens deposited by the entity over the past 5 days are sold, the expected profit would be $1.08 million. With large amounts of tokens continuing to flow into exchanges, be alert to potential short-term selling pressure and a pullback in HYPE.
$HYPE #HYPE
