Whale Deposits 665,000 HYPE to Bybit, Bags Nearly $7 Million Profit

Whale Makes Big Move with HYPE Tokens

According to recent data from Onchain Lens, a crypto whale deposited 665,000 HYPE tokens to Bybit on January 23. The total value of the deposit reached $14.54 million, generating a profit of approximately $7.04 million.

Low-Cost Accumulation and Staking Strategy

As early as December 3 to 8, 2024, the whale had already begun building its position. It purchased 651,900 HYPE tokens at $11.5 per token, spending around $7.5 million. These tokens were later staked to maximize returns.

Market Reacts to Whale’s Activities

This significant deposit has once again drawn attention to the HYPE token and highlighted the whale’s strategic moves in the crypto market. By leveraging smart buying and staking, the investor secured a massive profit in just over a month.