HYPE Whale Shows More Than $23 Million in Profit After Kraken Deposits

A HYPE whale has generated more than $23 million in profit from a position bought for about $902,000 roughly two years ago, after depositing part of its holdings to Kraken over the past week.

The whale bought 257,928 HYPE at about $3.50 each. Over the past week, it deposited 131,421 HYPE to Kraken, worth about $11.77 million at an average price of $89.56.

The whale still holds 140,506 HYPE, valued at about $12.2 million. The total profit exceeds $23 million, representing a 26-fold return on the original purchase.