Whale Transfers 541,000 Hyperliquid Tokens Worth $49.5 Million to Kraken

A whale or institution transferred 541,000 Hyperliquid (HYPE) tokens to Kraken, placing an approximately $49.5 million position on the exchange and implying a potential $9.52 million gain.

The tokens were withdrawn from Coinbase Prime about two weeks ago at an average price of $73.90. At the reported transfer price of $91.50, the position’s estimated gain is based on the difference between those prices and the 541,000-token balance.

The transfer moves a large HYPE holding to Kraken. Whether the whale or institution has sold the position remains unclear.

HYPE is the native token of Hyperliquid.