- Dormant HYPE cluster reactivates, selling 262K tokens (~$6.9M), signaling possible high market volatility.
- Whale holds 1M HYPE (~$26M) unstaked, gradually selling while monitoring key $29.90 price level for trends.
- Large USDC accumulation resumes after 5 months, indicating potential market swings and strategic token positioning.
A major HYPE token cluster linked to Tornado Cash has just triggered market attention as 262,400 HYPE (~$6.9M) was unstaked and selling started immediately. This activity follows a larger pattern, as a previously dormant wallet cluster, inactive for over 12 months, recently unstaked 631,889 HYPE (~$20.3M) across three wallets.
Analysts are closely monitoring these movements due to the potential for high volatility. The cluster, funded via Tornado Cash shortly after the HYPE token generation event, represents roughly 14–15% of the holder’s total stack.
MLM, a crypto analyst, detailed that the Tornado Cash–linked cluster originally bought HYPE using funds rotated from 10.2K ETH, selling them for $37.56M before converting into HYPE at an $8.8 average.
“After more than three years of dormancy, the cluster became active one day after the HYPE TGE and bought all its HYPE within 48 hours,” MLM reported. The cluster now holds over $120M in gains, prompting questions about whether the funds involve hidden or potentially illicit activity.
Whale Activity Accelerates
Crypto watcher Ray Tio confirmed that the whale has started unloading HYPE gradually. “He has now sold 60k HYPE ($1.6M), and will likely continue selling,” Tio noted, signaling potential larger sell-offs across the cluster. The whale currently has 1M HYPE (~$26M) in total ready to be unstaked. Such activity often signals sudden market swings, making traders cautious.
Additionally, ChiefraT pointed out key price levels, highlighting possible bullish or bearish outcomes depending on HYPE’s reaction above $29.90.
Market Reaction and Accumulation
After more than five months of inactivity, the whale re-entered the market with $2.5M USDC, buying 69,975 HYPE while leaving $765K to continue purchasing via HyperBot. Experts say that large whale transactions are early indicators of significant price volatility. Consequently, traders are tracking these funds closely, as any further accumulation or selling could shape HYPE’s short-term price trajectory.
