TechFlow, October 19 — According to MLM monitoring analysis, multiple wallet clusters associated with HYPE appear to be controlled by a single entity, involving a total of 12.26 million HYPE tokens, with activity closely matching that of the well-known on-chain whale Technorevenant.
The analysis reveals that these wallets have demonstrated consistent transaction timing, execution patterns, and protocol usage habits over the past period. Some of these wallet clusters previously established large Aster hedging positions on Hyperliquid, coinciding temporally with HYPE sell-off activities. Including Technorevenant’s verified wallets, the total HYPE holdings once reached 14.66 million (peaking at approximately $870 million), after which phased selling began.
Currently, the related wallets still hold around 9.59 million HYPE (approximately $347 million), of which 2.56 million are unlocked while the remainder are staked. Meanwhile, Technorevenant also holds about 1.42 million HYPE (approximately $51.4 million) across DeFi protocols on HyperEVM, using them as collateral to borrow 17.7 million USDT0.
Multiple wallets involved in HYPE sell-offs share identical API key characteristics with other addresses linked to Technorevenant, and their transaction execution patterns are nearly identical. These indicators have sparked speculation that these wallets are highly likely controlled by the same individual or team.
