A whale transferred 923,743 HYPE tokens to an exchange within 11 hours, valued at approximately $53 million

Odaily News, According to The Data Nerd's monitoring, a whale address (0x90B38) holding a large amount of HYPE tokens transferred approximately 923,743 HYPE tokens, valued at about $53.03 million, to exchanges over the past 11 hours. Among these, the address transferred 692,807 HYPE tokens, worth approximately $39.77 million, to Coinbase Prime, and 230,936 HYPE tokens, worth approximately $13.26 million, to FalconX.

This transfer accounts for roughly two-thirds of the address's total HYPE holdings. Currently, the wallet still holds 969,595 HYPE tokens, valued at approximately $55.5 million.

Analysts note that this move appears to be a systematic reduction in batches rather than a panic sell-off. The address did not liquidate its entire position at once but has been gradually transferring tokens to trading platforms, which may suggest an orderly exit strategy or portfolio rebalancing by the holder.