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Last week, a $40 million worth position was established in HYPE, and the new address has started gradually selling off HYPE and longing ETH.

5 hours ago

On August 26th, based on on-chain data, the mysterious new wallet address that injected $40 million into HYPE last week has once more sold 186,000 HYPE tokens (valued at $8.6 million). It used the USDC acquired from the sale of HYPE to take a long position in the futures market, establishing a long position of 27,236 ETH ($126 million). This sale was carried out in batches, with each batch being 11,000 HYPE tokens, and each individual sale being approximately $500,000.
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