According to crypto analyst Ember (@EmberCN), an institutional address that received a 1 million SOL investment allocation has sold HYPE for the third consecutive day and then returned to Solana to buy SOL. In the past four hours, this address sold 675,000 HYPE, exchanged it for 23.44 million USDC, and then transferred it to Solana, purchasing 126,900 SOL.

Since three days ago, the institution has sold a total of 1.817 million HYPE tokens for a total of 65.43 million USDC at an average price of $36. The proceeds were used to repurchase 350,000 SOL tokens at an average price of $186.5. The address currently holds 743,000 HYPE tokens (approximately $26.12 million USD) and is expected to continue selling them for SOL.