Last week, a new address with a build a position of 40 million USD for HYPE has started to sell HYPE in batches and go long on ETH.

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According to BlockBeats news on August 26, on-chain data shows that the mysterious newly created Wallet Address that spent 40 million USD to buy HYPE last week has once again sold 186,000 HYPE (worth 8.6 million USD). The USDC obtained from the sale of HYPE was used to open long positions in the contract market, establishing long positions of 27,236 ETH (worth 126 million USD). This sale was conducted in batches, with each batch consisting of 11,000 HYPE, and each single sale amounting to about 500,000 USD.

HYPE11.94%
ETH3.79%
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