BlockBeats reported on July 17 that, according to Hyperinsight monitoring, a wallet described as a suspected a16z-linked execution address had continuously sold 105,400 HYPE on the spot market during the day. The sales totaled about $6.4812 million, with an average execution price of roughly $61.49 across around 11,400 trades.
Main wallet sent 120,000 HYPE to the execution address
On-chain records show the entity’s main address transferred a combined 120,000 HYPE to the execution wallet in two separate transactions on the same day.
Main address: 0xb5E4d21240e9356caFc3a1261d10383f62DFc24e
Execution address: 0xc745044ae202b60d3ef5ee89a5f6738011651464
Another 190,000 HYPE entered exchange-related routes
At the same time, the main wallet sent 100,000 HYPE through an intermediary address into a Bybit collection path, and another 90,000 HYPE was quickly routed through a separate address into an exchange collection wallet.
Hyperinsight said those 190,000 HYPE can only be confirmed as having entered exchange-related paths at this stage. That is not enough to determine that all of the tokens have already been sold.
Total outflow from the main address reached 315,000 HYPE
Based on the monitoring data, the main address transferred out a total of 315,000 HYPE during the day. Its remaining balance on HyperEVM stands at about 45,100 HYPE.
Earlier monitoring showed TWAP buying in early June
Hyperinsight had previously reported that the same entity kept placing TWAP buy orders through more than ten linked addresses when HYPE hit a new high in early June. Over four days, it bought 687,000 HYPE and accumulated a total of 6.617 million HYPE.
An earlier update had said the “main force” in HYPE spot added another $20.35 million and had nearly single-handedly supported buy-side TWAP flow for three days.