🚨 The a16z-linked whale keeps transferring tokens to exchanges! $15.02 million worth of HYPE moved in over 5 days—has it locked in over $1 million in profit?
On November 4, on-chain analyst Ai Yi spotted an a16z-linked address associated with HYPE’s largest external entity depositing another 32,862 HYPE to an exchange. Over the past 5 days, this entity has transferred a total of approximately $15.02 million worth of HYPE.
More notably, since July 15 this year, the entity has withdrawn a total of 3.75 million HYPE from exchanges and market makers, at an average cost of about $83.50. Based on the price of the HYPE transferred in over the past 5 days, if all these tokens were sold, the estimated profit would be around $1.08 million.
In short, this whale previously bought or withdrew a large amount of HYPE and is now steadily transferring tokens to exchanges, naturally prompting the market to wonder whether it’s preparing to take profits. But keep in mind: transferring tokens to an exchange doesn’t mean they’ve already been sold. Still, sustained inflows of large amounts of funds could add short-term selling pressure, so HYPE holders should watch for further on-chain activity and changes in trading volume.📉
On November 4, on-chain analyst Ai Yi spotted an a16z-linked address associated with HYPE’s largest external entity depositing another 32,862 HYPE to an exchange. Over the past 5 days, this entity has transferred a total of approximately $15.02 million worth of HYPE.
More notably, since July 15 this year, the entity has withdrawn a total of 3.75 million HYPE from exchanges and market makers, at an average cost of about $83.50. Based on the price of the HYPE transferred in over the past 5 days, if all these tokens were sold, the estimated profit would be around $1.08 million.
In short, this whale previously bought or withdrew a large amount of HYPE and is now steadily transferring tokens to exchanges, naturally prompting the market to wonder whether it’s preparing to take profits. But keep in mind: transferring tokens to an exchange doesn’t mean they’ve already been sold. Still, sustained inflows of large amounts of funds could add short-term selling pressure, so HYPE holders should watch for further on-chain activity and changes in trading volume.📉
