Massive movements in HYPE: wallets linked to Tornado Cash liquidate positions worth millions

On-chain analysis reveals significant activity in HYPE token holdings associated with addresses connected to Tornado Cash. In recent days, these wallets have been divesting substantial positions from their cryptocurrency portfolios.

Recent Transaction Figures

The latest data shows the sale of approximately 262,400 HYPE tokens, equivalent to about $6.9 million at the current exchange rate. This operation adds to a larger previous movement recorded earlier this week, when 631,889 HYPE tokens were liquidated for approximately $20.3 million. Together, these two rounds of sales account for between 14% and 15% of the total assets held by this entity.

Total Holdings Volume

The total amount of HYPE tokens under the control of these addresses exceeds 4.36 million units. The assets were originally acquired during the early phases after token generation, using traceable funds linked to privacy platforms like Tornado Cash.

Price and Liquidity Context

With HYPE currently trading around $24.32 per token, these selling movements represent a notable level of liquidity pressure in the market. The 24-hour transaction volume on the network is around $10.25 million, suggesting that these massive unlocks could have significant implications for the token’s price stability in the coming days.