On-chain monitoring cited by ChainCatcher shows that two wallets suspected to be tied to Hermeneutic sold about $15 million worth of HYPE tokens over the past three days. The same data indicates the two wallets still hold roughly 660,000 HYPE, valued at about $56 million, and are continuing to reduce their positions at a slower pace. Market participants said continued selling by large-holder addresses could weigh on HYPE in the short term. At the same time, the remaining position is still sizable, leaving the wallets’ next fund movements in focus. No additional details were provided in the report beyond the observed selling activity, the current holdings, and the market view cited by ChainCatcher.
ChainCatcher reported, citing on-chain monitoring data, that two wallets suspected to be associated with Hermeneutic sold about $15 million worth of HYPE tokens over the past three days.
The data shows the two wallets still hold roughly 660,000 HYPE, valued at about $56 million, and are continuing to trim their holdings at a slower pace.
Market participants said persistent selling by large-holder addresses could put short-term pressure on HYPE, while the size of the remaining position keeps attention on the wallets’ next moves.
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