On-chain data just came out, and it's quite interesting.

Recently, I've been closely monitoring HYPE's holdings movements and have identified two key signals:

First, an address linked to TC just unlocked 260,000 HYPE (worth around $6.9 million), and immediately dumped them without any hesitation. Even more heartbreaking, another major holder sold 630,000 HYPE (worth about $20.3 million) within three days. This holder bought at the bottom during the third week after TGE last year and held for a full year, but now chooses to run at around cost price.

Why should we be cautious about this? The key point is—both batches of tokens originate from the same blacklisted mixing channel, yet different wallet addresses unlocked and sold almost simultaneously. It’s clear this isn’t retail investors passively cutting losses; it’s a premeditated, organized withdrawal.

My understanding is as follows:

The short-term selling pressure is now a certainty. Nearly 900,000 tokens being dumped all at once—can the market absorb it? Honestly, I’m not very optimistic. The whales choosing to exit near cost signals they are completely bearish on the future market, and may even possess negative news we don’t know about.

On-chain data is like a trader’s ECG—never lies.

From an operational perspective, if you still hold HYPE in your account, you should seriously reconsider. I already advised the team to reduce positions during the initial unlock in early January, and this second wave of selling fully confirms that judgment. The market isn’t a casino; when signals appear, action is necessary.

There’s a saying that always works: big fish move, small fish panic. They sell when no one’s paying attention and never sit idly before a storm.

Always trust the data, don’t rely on luck.