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HYPE's Genesis Whale appears to have started taking profits, with unrealized gains totaling over $94 million.
Deep Tide TechFlow message: On May 30, according to monitoring by Onchain Lens, a HYPE genesis distribution whale is suspected to have started taking profits, with its estimated cumulative profit on HYPE exceeding $94 million.
On-chain data shows that this address previously received 819,335 HYPE and additionally spent about $2.9 million to buy 676,798 HYPE, bringing its average holding cost to approximately $4.29. Eight hours ago, the address withdrew 500,000 HYPE from Hyperliquid (about $33 million), of which 211,000 HYPE (about $13.2 million) has been transferred to Coinbase.
As of now, the address still holds approximately 1,285,000 HYPE, which is worth about $82.62 million based on the current price.