A certain address cluster unstaking 1 million HYPE tokens, and may sell them all.
TL;DR
A whale address cluster is unstaking 1 million HYPE tokens worth $26 million, likely to sell them all. It has already sold 600,000 tokens and may increase selling, with all holdings purchased using Tornado Cash funds shortly after the Hyperliquid TGE.
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[A whale address cluster unstaking 1 million HYPE tokens, possibly to sell them all] According to Mars Finance, @nahnah64 disclosed that a whale address cluster that previously unstaking 262,400 HYPE tokens (approximately $6.9 million) is expected to increase its selling scale. The cluster's remaining 1 million HYPE tokens (worth $26 million) are currently in the unlocking process. It has already sold 600,000 HYPE tokens (worth $1.6 million) and is likely to continue selling. All HYPE held by this cluster was purchased within three weeks of the end of the Hyperliquid TGE, with funds coming from Tornado Cash. The cluster's total holdings exceed 4.36 million HYPE tokens. Furthermore, according to market data, HYPE is currently trading at $26.669, a 24-hour increase of 1.16%.