A whale that bought HYPE roughly two years ago at about $3.5 per token is now taking profits, according to on-chain tracker Lookonchain. The wallet originally accumulated 257,928 HYPE for about $902,000 in total. Over the past week, the whale deposited 131,421 HYPE to Kraken, a transfer valued at about $11.77 million based on an average price of $89.56. The address still holds 140,506 HYPE worth around $12.2 million. Based on the figures shared by Lookonchain, the position has generated more than $23 million in total profit, representing a 26x return. The activity points to active profit-taking from a long-held position, with part of the stash already moved to an exchange and the rest still sitting in the wallet at the time of the update.
A whale that accumulated HYPE about two years ago at roughly $3.5 per token is now selling the position for a profit, according to Lookonchain.
Lookonchain said the wallet bought 257,928 HYPE at the time, with the purchase valued at about $902,000.
The whale sent 131,421 HYPE to Kraken over the past week
In the past week, the whale deposited 131,421 HYPE to Kraken. Based on an average price of $89.56, the transfer was worth about $11.77 million.
The address still holds 140,506 HYPE, valued at around $12.2 million.
Using the figures shared by Lookonchain, the whale's total profit now exceeds $23 million, equal to a 26x return.
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