Large cryptocurrency investors, or whales, withdraw the native token of hyperliquids as concerns develop concerning an upcoming acquisition calendar which could release around $ 11 billion in supply.
The “0x316f” whale wallet withdrawn $ 122 million from hyperliquid chips (hype) on Monday, which were acquired for around $ 12 per token.
The whale was on approximately $ 90 million in unpaid profits nine months after buying the tokens and is probably “sold for lucrative”, according to the Lookonchain blockchain data platform.
The sale occurs while the beateering has joined a new summit of $ 59.29 on Thursday, but faces its first major test in November when the team tokens are starting to acquire.
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According to the hyper foundation, 23.8% of the total offer allocated to basic contributors will start to unlock on November 29, a year after the Genesis of the project.
The acquisition calendar will distribute about $ 11.9 billion in media threshing over 24 months for the team, which could be the “first real test” for the resilience of the token, said the co -founder of the co -founder of Bitmex, Arthur Hayes, the co -founder of Bitmex on Monday.
In what he nicknamed a moment of “the sword of damocles”, he will introduce around $ 500 million in monthly unlocking, of which only 17% will be absorbed by redemptions, leaving around $ 410 million overhanging potential tenders, according to the researcher from Maelstrom Lukas Ruppert.
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Hayes sells a media threshing hiding place for Ferrari before the acquisition calendar
Maelstrom’s research was published shortly after Hayes sold all of his braking tokens, which he apparently used to pay the deposit for a new Ferrari, Cointelegraph reported earlier on Monday.
“Need to pay my deposit on the new Rari 849 Testarossa,” said Hayes on September 21.
Other whales seem to move to the emerging hyperliquid competitor, Aster, a decentralized perpetual exchange linked to the co-founder of the Binance Changpeng Zhao.
On Monday, the whale address “0x220” bought a value of $ 10.5 million in ASTER tokens on two portfolios and currently holds more than $ 6 million in unpaid profits, Lookonchain said in a Monday X Post.
During last week, the Aster token increased by more than 1,700% to become the fourth DEX tox of industry with a market capitalization of 2.5 billion dollars.
The braking token dropped 7.9% during the same period to exchange $ 49.34 at the time of writing, according to CoinmarketCap data.
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