While large whale transactions in the cryptocurrency market attracted attention, significant developments occurred in PONS, ZEC, and HYPE. A whale selling millions of PONS put pressure on the price, while another whale who opened a long position in ZEC about a month ago saw their unrealized profit approaching $10 million. Hyperliquid, meanwhile, burned $2.42 million worth of HYPE in the last 24 hours.
According to on-chain data, a whale sold 2.25 million PONS tokens withdrawn from Binance for approximately $1.29 million worth of USDG and Ethereum. On the day of the large sell-off, the price of PONS fell by 12 percent.
On the ZEC side, a whale stood out, having opened a long position of 9,810 ZEC approximately a month ago at an average price of $517.68. As the ZEC price rose to $1,534.70, the investor’s unrealized profit reached $9.98 million. It was also noted that the same investor held a short position of 3,550 ETH, resulting in an unrealized loss of approximately $2.60 million.
Hyperliquid also continued its token burning operations to reduce its supply. Over the past 24 hours, the platform burned 26,310 HYPE tokens at an average price of $91.86. The total value of the transaction was estimated at approximately $2.42 million.
Hyperliquid has burned a total of 48.76 million HYPE tokens to date, with a current market value of approximately $4.50 billion. This amount represents 4.88% of HYPE’s maximum supply. The platform’s revenue over the last 30 days reached $64.34 million, while its all-time total revenue stands at $1.26 billion.
*This is not investment advice.
