According to Odaily Planet Daily, MLM monitoring indicates that over the past week, trader TechnoRevenant began reducing his EVM holdings, including converting 625,000 KHYPE (worth $26.6 million) into HYPE. His sell-off caused KHYPE to depreciate by as much as 10% at one point.

According to estimates, his holdings in these EVM protocols are approximately 1.4-1.5 million HYPE (approximately $60-65 million). In the past 7 hours, he has sold 377,000 HYPE (approximately $16.2 million).