Two anonymous 'whales' bulk purchase $25.7 million worth of HYPE in 12 hours... All-time high rally continues
According to the on-chain analysis firm Lookonchain, two new anonymous addresses have been found to have massively purchased a total of $25.7 million worth of H
What to know
- According to the on-chain analysis firm Lookonchain, two new anonymous addresses have been found to have massively purchased a total of $25.7 million worth of H
According to the on-chain analysis firm Lookonchain, two new anonymous addresses have been found to have massively purchased a total of $25.7 million worth of HYPE over the past 12 hours.
An analysis of on-chain data reveals that the first address (starting with 0x6436) withdrew 263,906 HYPE worth $19.2 million from multiple exchanges, including OKX, Bybit, Kraken, and Gate.io.
Subsequently, the second new address (starting with 0x5EaD) also engaged in buying by withdrawing 88,955 HYPE worth $6.5 million from the Kraken exchange. In the industry, the phenomenon of large-scale cryptocurrency withdrawals from exchanges is typically interpreted as accumulation for long-term holding purposes.
Along with this massive volume movement, HYPE has been showing strength by continuing its recent all-time high rally. According to CoinMarketCap, HYPE is trading at $73.52, up 1.18% from the previous day, continuing its upward trend.