Institutions allocated 1 million SOL in investments have sold HYPE and bought SOL for three consecutive days

According to ChainCatcher, as monitored by crypto analyst Ember (@EmberCN), an institutional address that received an allocation of 1 million SOL has sold HYPE for the third consecutive day and cycled the proceeds back to Solana to purchase SOL.

In the past 4 hours, this address sold 675,000 HYPE, exchanged for 23.44 million USDC, bridged the funds to Solana, and bought 126,900 SOL. Since three days ago, the institution has cumulatively sold 1.817 million HYPE, with a total transaction amount of 65.43 million USDC, and an average selling price of $36; all proceeds have been used to repurchase 350,000 SOL at an average purchase price of $186.5. Currently, the address still holds 743,000 HYPE (approximately $26.12 million) and is expected to continue selling HYPE to exchange for SOL in the future.