Two large Hyperliquid wallets sold about $108.81 million worth of HYPE, according to Lookonchain. The sales came as the token traded near its recent high, and the wallets booked more than $26.5 million in combined profit. The owners and their reasons for selling were not disclosed.
Wallet 0x2685 Leads the Selling
Lookonchain tracked a wallet starting with 0x2685 that sold 912,383 HYPE for roughly $82.09 million. The tokens were bought about a month earlier, and the estimated profit on that trade was over $10 million. That is a quick turn for a position of this size. It likely drew attention from traders who watch large holders for signs of changing sentiment.
Second Wallet Books Larger Gain
The address 0x648F sold 296,705 HYPE for about $26.72 million. Those tokens had been held for roughly 11 months, and Lookonchain calculated a profit of $16.5 million on that sale. The longer holding period makes the gain stand out. Still, the wallet owner and the reason for selling remain unknown. There is no public explanation yet, and the data does not show where the funds went after the sales.
HYPE Price Stays Below Record
HYPE rose from around $78 to over $97 this week. The move gave both wallets a strong exit point, but the token did not break its all-time high of $97.98. It came close, yet the record held. Whether the whale sales contributed to the pause is not clear. Large sales can affect sentiment, but one week of price action rarely tells the full story. Traders may treat the sales as profit-taking rather than a signal about the project itself.
For now, the two transactions are a reminder that big holders can move millions without much public explanation. Lookonchain’s data shows the profit, not the motive. Investors may keep watching the addresses, but the reported sales do not confirm any broader trend in HYPE demand. The market will likely need more than one set of wallet moves to draw a firm conclusion.
This is not investment advice.
