Last week’s $40 million HYPE accumulation address has started gradually selling HYPE and going long on ETH

BlockBeats News, August 26 — According to on-chain data, the mysterious newly created wallet address that spent $40 million to purchase HYPE last week has once again sold 186,000 HYPE (worth $8.6 million).

The USDC obtained from selling HYPE was used to open long positions in the contract market, establishing a long position of 27,236 ETH ($126 million). The HYPE was sold in batches, with each batch consisting of 11,000 HYPE, and each sale amounting to approximately $500,000.