Hyperliquid Genesis Whale Starts Locking In Profits, HYPE Gains Top $94M

ChainCatcher reported that OnchainLens data shows a whale tied to Hyperliquid's genesis allocation has started taking profits, with total gains on HYPE estimated at more than $94 million. The wallet initially received 819,335 HYPE from the genesis allocation, then accumulated another 676,798 HYPE at an average purchase price of $4.29, spending about $2.9 million. Around eight hours ago, it withdrew 500,000 HYPE from Hyperliquid, worth roughly $33 million, and later sent 211,001 HYPE (about $13.82 million) to Coinbase. The address still holds 1,284,955 HYPE, valued at approximately $82.62 million.