Hyperliquid Team Transfers $90M in HYPE: Is a Sell-Off Imminent?
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Hyperliquid Wallet Activity: Hyperliquid transferred $90 million worth of HYPE tokens to a spot wallet, raising concerns about potential sell-offs, although no direct selling has been confirmed yet.
Funding Rate Shift: Following the transfer, the funding rate for HYPE turned negative, indicating increased trader caution and a bearish sentiment in the market.
Market Response: HYPE's price has stabilized between $37 and $40 after recent drawdowns, with traders remaining vigilant about the large sum in the spot wallet.
Internal Transfers Observed: The wallet also recorded smaller token transfers, suggesting internal reallocations rather than new external transactions, keeping market participants on alert.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
