News linked to both this project and an event.
According to on-chain analyst Yu Jin's monitoring, Hyperliquid Labs, the development team behind Hyperliquid, transferred 452,000 HYPE worth $32.32 million in the early hours, and HYPE has dropped 5% today. These HYPE tokens are suspected to have been sold through market maker Flowdesk, with part entering Flowdesk's on-chain wallet and another part entering Flowdesk's deposit addresses on OKX, Bybit, and Gate.
According to on-chain analyst Onchain Lens (@OnchainLens), the USDH deployer began moving part of its HYPE holdings 12 hours ago: it received approximately 1.01 million HYPE (roughly $72.45 million) from unstaking, then transferred approximately 200,000 HYPE (roughly $15 million) to a new wallet and deposited 200,000 HYPE (roughly $13.76 million) into Flowdesk—of which 120,000 HYPE (roughly $8.25 million) have been sent to Bybit, while the remaining 80,000 HYPE (roughly $5.7 million) are being continuously sold on HyperLiquid.
According to on-chain analytics platform Lookonchain (@lookonchain), a whale purchased 348,007 HYPE tokens at an average price of $38.56 (approximately $13.42 million) six months ago and has recently begun taking profits. Three hours ago, the whale sold 134,868 HYPE tokens via Flowdesk for approximately $9.92 million. The whale still holds 213,139 HYPE tokens (valued at approximately $15.69 million), with an unrealized profit of roughly $12.19 million.