Lookonchain
A whale who bought 257,928 HYPE at about $3.50 roughly two years ago deposited 131,421 tokens into Kraken over the past week. The deposit was valued at $11.77 million at an average price of $89.56, and the trader still holds 140,506 HYPE worth $12.2 million.
Why it matters
The reported total profit exceeds $23 million, a 26x return on the original position. The Kraken deposit signals profit-taking by a large holder after a substantial run-up.
Market impact
A large exchange deposit can put tokens in position to be sold, though a deposit alone does not confirm that a sale has occurred. The whale's remaining 140,506 HYPE keeps a significant position exposed to future price moves.
Frequently asked questions
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How much HYPE did the whale deposit into Kraken?
The whale deposited 131,421 HYPE over the past week, valued at $11.77 million at an average price of $89.56.
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How much HYPE does the whale still hold?
The whale still holds 140,506 HYPE, valued at $12.2 million.
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What was the whale's reported return on HYPE?
The reported total profit exceeds $23 million, equivalent to a 26x return.
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When did the whale buy the HYPE position?
The whale bought 257,928 HYPE roughly two years ago at about $3.50 per token.
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Does the Kraken deposit confirm that the HYPE was sold?
No. The deposit signals potential profit-taking, but a deposit to an exchange does not by itself confirm a sale.
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