TechFlow News: On May 30, according to onchain monitoring by Onchain Lens, a “genesis distribution” whale of HYPE appears to have begun taking profits, with estimated cumulative profits on HYPE exceeding $94 million.
Onchain data shows that this address initially received 819,335 HYPE tokens and subsequently purchased an additional 676,798 HYPE tokens for approximately $2.9 million, resulting in an average holding cost of roughly $4.29 per token. Eight hours ago, the address withdrew 500,000 HYPE (valued at approximately $33 million) from Hyperliquid; of this, 211,000 HYPE (valued at approximately $13.2 million) have already been transferred to Coinbase.
As of now, the address still holds approximately 1.285 million HYPE, valued at around $82.62 million at the current price.
