Wallet Tied to Matrixport Dumps 100K HYPE for $4.24M After Depositing $17.4M on Hyperliquid!

A wallet potentially linked to Matrixport deposited 403,289.5 HYPE — worth approximately $17.4 million — into Hyperliquid roughly four hours ago and immediately began offloading. So far, 100,000 HYPE tokens have been sold for $4.24 million in USDC, representing roughly 25% of the deposited position.

The scale and speed of the sell-off is drawing attention on-chain. A single wallet moving $17.4M into a venue and beginning systematic liquidation within hours is the kind of activity that can weigh on token price, particularly for a mid-cap asset like HYPE where large block sales carry meaningful market impact.

The Matrixport link has not been confirmed, but if accurate, it would suggest the firm — a crypto financial services platform — is reducing exposure. Traders watching HYPE should monitor whether the remaining 303,289 tokens follow.