Suspected Single Whale Holds Over 14.66 Million HYPE, with a Peak Value of $870 Million

BlockBeats News, October 19, According to MLM Monitoring and Analysis, multiple wallet clusters related to HYPE are suspected to be controlled by the same entity, involving a total of 12.26 million HYPE coins and highly coinciding with the activities of the well-known on-chain whale, Technorevenant.

Analysis shows that these wallets have shown consistent transaction times, execution patterns, and protocol usage habits over a period of time. Some wallet clusters have previously established large Aster hedge positions on Hyperliquid, coinciding with HYPE sell-off behavior. If Technorevenant's wallets, which have been identified, are included in the calculation, their total HYPE holdings once reached 14.66 million coins (peaking at around $870 million), and then began to sell off in batches.

Currently, the related wallets still hold approximately 9.59 million HYPE coins (about $347 million), of which 2.56 million coins have been unlocked, and the rest are in a staking state. At the same time, Technorevenant also holds about 1.42 million HYPE coins (about $51.4 million) in a DeFi protocol on HyperEVM, using this as collateral to borrow 17.7 million USDT0.

Several wallets involved in the HYPE sell-off share the same API key features as Technorevenant's other addresses, with almost identical transaction execution patterns. This sign has sparked speculation that these wallets are likely controlled by the same individual or team.