Whale Who Redeemed 2.88 Million HYPE in July Completes Sell-Off

A whale or institution that redeemed 2.88 million HYPE from staking in late July has finished liquidating their position. The entity transferred the final 969,000 HYPE, valued at approximately $79.18 million, to Coinbase Prime and FalconX. Having accumulated the tokens at an average price of $19.80 early last year, the investor sold them over the past month at an average price of $64.90, realizing a profit of $132 million, representing a 228% return.