Smart money offloads $11.77M in HYPE to Kraken at 2,214% return
- —131,421 HYPE worth $11.77M deposited to Kraken since Sept. 28
- —Average deposit price of $89.56 versus a $3.87 cost basis
- —Estimated profit of $11.26M, a 2,214% return
- —First sale came before Hyperliquid Labs' OTC sale of 3.75M HYPE
Why it matters: A major whale is taking profit just as Hyperliquid Labs sells 3.75M HYPE OTC to an institution, potentially adding pressure on the token's price.
Source: PANews