Analysis: Approximately 625,000 of the 3.75 million HYPE tokens sold over-the-counter last month are traced to Trade.xyz
51 minutes ago
On-chain analyst MLM reported that of the 3.75 million HYPE tokens sold over-the-counter last month, 3.125 million have been staked to validator wallets of HYPE treasury firm Hyperliquid Strategies (PURR) and Unit. The remaining 625,000 tokens were transferred to another HyperEVM address and remained idle for nearly three weeks before 1 HYPE was sent to a new address yesterday as a test transaction. This new address received funds via multiple transfers the same day, with its source address showing multiple ties to the address Trade.xyz used to purchase a ticker on Hyperliquid. The 625,000 HYPE tokens were subsequently moved to this new address and transferred from HyperEVM to Hypercore. The analyst stated that while it is strongly suspected ICE is the buyer of the 3.75 million HYPE tokens, this has not been confirmed. The 625,000 tokens may have been sent to Trade.xyz as part of ICE’s investment, and on-chain links strongly indicate these tokens belong to Trade.xyz.
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