4.36 million HYPE tokens about to become liquid? Mysterious whale unlocks over 260,000 tokens and immediately sells them off

【Blockchain Rhythm】An interesting observation about HYPE tokens — a large holder who had been dormant for over a year suddenly became active in the past three days. This individual unstaked a total of 631,889 HYPE through three different wallets, worth approximately $20.3 million. On January 5th, an initial 262,400 HYPE (equivalent to $6.9 million) was unlocked, followed by a large sell-off.

There’s something interesting behind this. The big holder purchased all their tokens within three weeks after the HYPE project’s TGE (Token Generation Event), and the funds came from addresses associated with Tornado Cash. Currently, their wallet still holds over 4.36 million HYPE, and the amount unlocked this time accounts for only about 14% to 15% of their total holdings.

In other words, if this trend continues, the market could face even greater selling pressure. After all, they still have over 700,000 to 800,000 tokens pending unlocking. Such large unlock events usually cause significant price impacts, especially for tokens with relatively limited liquidity.