Months of strategic accumulation and holding by a prominent crypto whale identified as 0x82d8 have culminated in a significant profit realization on their $HYPE position, much to the delight and HD cameras of the trading community.
We haven’t seen a partial sell-off like this since last decade, and despite it, 0x82d8 still holds a sturdy stack of HYPE. Meanwhile, new large buyers are entering the market, leading many to speculate that the token still has a few legs to run. This is a pretty wild situation.
From Accumulation to Realization: $28.4M in Profit Locked In
Whale address 0x82d8 is one of the most successful $HYPE investors to date. This investor amassed a huge 1.45 million $HYPE tokens—along with an enormous sum of 26.58 million USDC—between December 7, 2024, and January 9, 2025, buying at an average price of $18.39. For five months, the whale held the full position and moved none of the tokens—an impressive show of conviction for not scoring a quick flip in a volatile market. That flip might have paid off just the same, however, because the whale sold off some of the tokens this past week, moving 395,000 for a total of about $14.51 million.
The tokens were sold at an average price of $36.69—effectively doubling the investment on this batch and securing a portion of the overall profits.
Even after this first sell-off, 0x82d8 still commands 1.05 million $HYPE tokens, which are worth around $40.5 million at present market prices. The total realized and unrealized profits from this position now total around $28.4 million. In short, this whale is making some serious gains on an asset that seems to be maturing in the digital economy.
New Whales Enter the Arena: $5.33M in Fresh Buys
Even as the whale address 0x82d8 starts to scale back its exposure, three new whale addresses have entered the scene and have bought a combined total of 137,929 $HYPE tokens—amounting to $5.33 million—with one purchase made on the same day. This ownership change signals that $HYPE has plenty of bullish sentiment backing it.
Wallet 0xee50 took on 73,689 $HYPE, to the tune of $2.84 million. Its average token price was $38.55.
Wallet 0x1E11 acquired 38,541 $HYPE for $1.5 million, at a price that was just a touch higher on average than Wallet 0xee50 paid.
Wallet 0x6334 bought 25,699 $HYPE for $1 million, a little bit less in average price per token than some of the other wallets that evening.
These transactions indicate that even at high prices, big investors perceive more upside or long-term potential in the $HYPE ecosystem. When accumulation by whales during periods of volatility is considered an indicator of confidence in an asset’s fundamentals or upcoming catalysts—confidence that seems more apparent now than in the months prior—the question then becomes, why does this confidence exist?
What’s Next for $HYPE? Market Watches Whale Movements Closely
Market observers are now paying close attention to 0x82d8 and the three new whale entries for any signs of a future direction. With $HYPE now trading for around $39—well above the average entry price for early investors—some traders are speculating on whether the sell-off from 0x82d8 will accelerate or slow down in the coming days.
Despite having divested some of its holdings, 0x82d8 remains a top-tier Ethereum whale, with well over $40 million still held in the form of HYPE. If this whale opts to retain most of its remaining HYPE through future price action, it could bolster mid- and long-term retention among HYPE’s other holders.
At these heightened levels, the new buyers are a presence that goes a long way toward providing reassurance to retail investors who might be fretting about a top-heavy situation with whales heading for the exits. It’s a reassuring picture, anyway, of a market that seems to have shifted on its axis rather than one that might be on the verge of an earthquake. And might I add, it’s a situation rendered even more soothing by the fact that fresh capital seems to be flowing into this balance.
At present, HYPE stays in the limelight. It is enjoying what may be described as “whale dynamics.” These are the effects felt in a token’s price and trading pattern when a small number of buyers and sellers hold a large amount of a token’s supply. HYPE also is benefitting from what seems to be a reasonably “healthy” trading pattern, as most of HYPE’s trading appears to be supply and demand driven, with no obvious market manipulation, and by a reasonable number of HYPE traders.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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The post Whale 0x82d8 Begins $HYPE Sell-Off After $28.4M Profit, New Buyers Step In Amid Price Rally appeared first on The Merkle News.
