Two linked wallets extended a two-week HYPE accumulation run while a disclosed Bitwise ETF address raised its staked balance to $74.9 million.
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HYPE slips 3% as whales move $14.83M off Coinbase Prime
Two linked wallets extended a two-week HYPE accumulation run while a disclosed Bitwise ETF address raised its staked balance to $74.9 million.
HYPE fell 3% to $80.80 after two linked wallets withdrew 83,630 tokens worth $6.69 million from Coinbase Prime, extending a two-week accumulation run.
Onchain Lens, a blockchain tracking platform, said the addresses lifted their estimated two-week purchases to 223,350 tokens, valued near $14.83 million. The wallets, 0xCa521B105133cb3Ee9903F85F6A51ba46aF63C12 and 0xa14DD0DE933104d56A55D43F12e8c6Dc5800411b, moved tokens from custody into self-controlled wallets.
The token traded between $78.60 and $84.94 after reaching an $86.71 record on August 28. Whale withdrawals and institutional staking now contrast with profit-taking across crypto markets after Fed Chair Kevin Warsh said the central bank needs clearer progress toward its 2 percent inflation objective.
HYPE open interest stood near $1.95 billion, while negative funding pointed to crowded short-term bets. Support sits between $78 and $80; a daily break below $78 would expose the $73 to $75 region, while a move above $84 would return attention to the $86.71 record.
HYPE Staking Tightens Float as Exchange Supply Returns
Bitwise's BHYP spot ETF address 0x6183AeCb22b09b4CB167F2B42C611243C7E74318 delegated another 188,790 HYPE, worth about $15.19 million, lifting its observed staked balance to approximately $74.9 million. Bitwise reported 2,332,714 HYPE worth $185.96 million in the trust on August 27, with a 70 percent staking ratio.
A fresh wallet acquired 440,000 HYPE through FalconX, adding an institutional-sized transaction, while four wallets withdrew 675,000 HYPE from Coinbase and staked most assets, a position Onchain Lens valued near $53.92 million.
Hyperliquid directs 99 percent of trading revenue into HYPE repurchases, Bitwise said, creating recurring demand. Incoming deposits can offset that effect: wallets linked to Multicoin deposited $59.04 million in HYPE to Coinbase Prime last month, with cumulative deposits since February surpassing $100 million.
Current price action keeps $78 at the center of the near-term structure. Bitcoin holding $77,000 could support consolidation between $78 and $84, while renewed exchange deposits or weaker Bitcoin trading would increase pressure near the lower boundary. Continued HYPE staking would keep part of supply outside daily spot circulation.
This article is for informational purposes only and does not constitute investment advice.
[1] Hyperliquid Price Slips as Whales Move $14.83M Off Coinbase Prime[2] Hyperliquid Price Slips as Whales Move $14.83M Off Coinbase Prime - Blockonomi[3] Bitwise’s BHYP Stakes $74.9M In HYPE: A Milestone For Institutional Crypto Adoption[4] How is HYPE’s whale accumulation challenging its $72M institutional transfers?
