A major owner of $HYPE, a so-called whale, purchased the tokens 17 months ago at an average price of $18. If he decides to sell these crypto assets, his profit could exceed $39 million. A whale from another wallet unstaked an additional 1.89 million $HYPE worth $105.9 million. These actions could indicate either a skeptical attitude towards the prospects of $HYPE or a planned portfolio restructuring. However, analysts note that unstaking assets by itself does not necessarily mean the holder intends to sell them.
Whales keep selling $HYPE!
— Lookonchain (@lookonchain) July 31, 2026
A whale that bought 1.02M $HYPE at an average price of $18 17 months ago unstaked the tokens today and deposited them into #FalconX and #CoinbasePrime 2 hours ago, likely to sell.https://t.co/sokAtSnie9 pic.twitter.com/fqgN3G5788
Unstaking tokens is becoming a common phenomenon among both private and large investors. A week ago, 4.09 million $HYPE worth $241 million were awaiting unstaking. Since then, the volume has more than doubled, to 9.1 million $HYPE valued at $496.6 million.
The total amount of $HYPE placed in staking has decreased over the month from 438.7 million to 435.9 million coins. The increase in the number of coins awaiting withdrawal and the decrease in the amount of staked $HYPE may suggest that some long-term holders of $HYPE are bearish and reducing their positions.
After bouncing from $72 three weeks ago, the Hyperliquid cryptocurrency is trading in a downtrend, indicating selling pressure. Over the past month, the price of $HYPE has fallen by 16.15%, to $54.4, with a market capitalization of $13.7 billion. The daily trading volume of the coin has decreased by 8.6%, to $350.9 million.
In June, Arthur Hayes, co-founder of the now-closing crypto exchange BitMEX, sold all of his 247,334 $HYPE worth $18.02 million, despite the entrepreneur having previously given optimistic forecasts for this cryptocurrency.
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