Early HYPE holder moves 261,926 tokens to Kraken with 2,119% return
- —Another 100,276 HYPE worth $8.17 million was sent to Kraken two hours before the report
- —Total transfers since Sept. 28 reached 261,926.4 HYPE worth $22.49 million
- —Average transfer price was $85.87 versus a $3.87 cost basis
- —Estimated profit is about $21.48 million, an ROI above 2,119%
Why it matters: A large HYPE inflow to an exchange from an early holder raises the risk of selling pressure on the token.
Source: PANews