ChainCatcher reported that, according to monitoring by on-chain analyst EmberCN (@EmberCN), a large HYPE transfer has taken place. A total of 572,900 HYPE was withdrawn from Coinbase Prime, with the assets valued at approximately $40 million at the time of the report.
HYPE Withdrawal Followed by Hyperliquid Staking
After the withdrawal from Coinbase Prime, the same batch of HYPE was subsequently transferred to Hyperliquid for staking. The reported fund path is therefore specific: the tokens first left Coinbase Prime and were then moved into a staking process on Hyperliquid.
The original item did not disclose the owner of the address, the duration of the staking arrangement, or the identity of the operator behind the transfer. ChainCatcher categorized the item under whale movement, with the report focusing on the movement of a large amount of HYPE from Coinbase Prime to Hyperliquid for staking.