There has been remarkable whale activity in the cryptocurrency market in recent hours.
According to on-chain data, a whale believed to be TechnoRevenant withdrew 2.39 million HYPE ($122 million) from his wallet approximately four hours ago. Selling these assets could represent a significant profit.
The tokens in question were reportedly purchased approximately nine months ago by the whale's main wallet, 0x316f…e678, with an average cost base of around $12. This means the whale currently has over $90 million in unrealized profits.
Meanwhile, BitMEX founder Arthur Hayes sold off the 96,628 HYPE ($5.1 million) he purchased about a month ago, effectively removing it from his portfolio. Hayes made a profit of approximately $823,000 (+19.2%) from this transaction. Notably, despite projecting a 126x upside potential for HYPE during his WebX Summit speech on August 25th, Hayes exited with a gain of just under 20%.
HYPE stands out as the biggest competitor to the recently released and popular ASTER.
Additionally, another unidentified whale withdrew 50.1 million ASTER ($80.6 million) from the Aster platform in the last 4 hours and distributed it to 10 different new wallets.
*This is not investment advice.