A dormant whale address has reawakened after a month, withdrawing 96,930 HYPE tokens (approximately $6.01 million) from BitGo, according to on-chain monitoring by Onchain Lens. The wallet now holds a total of 139,206 HYPE, valued at around $8.6 million.
Whale Activity Highlights HYPE Accumulation
The transaction, recorded on June 24, marks the first significant movement from this address in over 30 days. Such large withdrawals from exchanges often signal accumulation or a shift to self-custody by major holders.
Market Context
HYPE, a token associated with the Hyperlane cross-chain messaging protocol, has seen increased whale interest in recent weeks. The move comes amid broader market volatility, with cryptocurrencies like Bitcoin and Ethereum trading in a narrow range.