The cryptocurrency market has seen a surge in on-chain activity from large investors. Recent data indicates strong accumulation and selling activity in Hyperliquid’s native token, HYPE, while also showing millions of dollars in transfers in Chainlink (LINK)-connected wallets.
According to on-chain data, a crypto whale bought another 40,000 HYPE from Coinbase today, worth approximately $2.3 million.
It was stated that the wallet in question increased its total HYPE holdings to 260,000 tokens through purchases made from Coinbase, Bybit, and other sources over the past two months. At current prices, the whale’s HYPE position is worth approximately $15.1 million.
Another Hype Whale Goes on Sale
Another major investor reportedly invested 60,000 HYPE in Hyperliquid and has begun selling.
The whale has so far earned approximately $1.77 million in exchange for 31,560 HYPE. Additionally, it’s noted that two TWAP orders for selling HYPE are still active in the wallet.
It was reported that one of the active orders is worth approximately 40,000 HYPE, or $2.1 million, and has about 15 hours left to be completed.
The same wallet also sent approximately 1.67 million USDC to Coinbase.
On the Chainlink side, a different whale movement was observed. A large investor transferred approximately 213,810 LINK, worth $1.87 million, to their Gnosis Safe wallet.
The whale withdrew the aforementioned amount of LINK from Binance approximately two weeks ago. The transfer of the tokens from the centralized exchange to a self-custody platform like Gnosis Safe could be interpreted as an indication that the assets are not being held for short-term sale on the exchange. However, wallet transfers alone do not provide a definitive signal regarding an investor’s future transactions.
*This is not investment advice.
