Hyperliquid (HYPE) has been drawing attention in the market for the past two weeks. According to research by OnChainLens, it was confirmed that two wallets presumed to belong to the same holder acquired a total of 223 350 HYPE tokens. The purchase amount is estimated at about US$148 million (KRW 20.5 billion).
OnChainLens’ data shows that on March 29 at 00:30 Korean time, the two wallets withdrew 83 630 HYPE tokens from Coinbase Prime. The value of that withdrawal is estimated around $6.69 million (KRW 920 million). That amount was included in the total purchase volume counted by OnChainLens for the last two weeks.
Of the total purchased volume of 223 350 tokens, 83 630 were moved out through Coinbase Prime to external wallets during this transaction. Coinbase Prime is a platform that provides trading and custody services for institutions and large investors; when tokens are transferred from a custodial platform to an external wallet, OnChainLens’ market may interpret it as a transfer of ownership or a change in market supply. However, from the withdrawal alone one cannot determine the ultimate purpose or future direction of the transaction, which nonetheless attracts investor attention.
HYPE is a project that has attracted traders by focusing on its product trade and platform liquidity. Earlier we reported that HYPE had distributed 300 000 tokens to its holders. The fact confirmed in this transaction is that two wallets presumed to be the same holder purchased HYPE over the last two weeks, with some of it being moved out through Coinbase Prime. This suggests a need to examine Hyperliquid’s liquidity and market influence more closely.