A brother who specifically tracks Hyperliquid stated that Paradigm is currently holding a large amount of $HYPE tokens, with an average acquisition cost of $16.5, and has currently made a floating profit of $450 million.
He tracked the path of this acquisition:
· Early on, they helped with purchases through the market maker Wintermute.
· Later, they made over-the-counter purchases on exchanges through FalconX.
In December of last year, Wintermute transferred 4.18 million HYPE tokens to a new wallet, which were then sent to 10 new wallets, with individual holdings ranging from 150,000 to 840,000 tokens.
From February to April of this year, another 1.56 million, 10.79 million, and 2.61 million HYPE tokens were withdrawn from Gate and dispersed to several new wallets with no historical records.
He believes that among the top institutions publicly declaring their holdings of HYPE tokens, only Paradigm has such a large on-chain operation and the habit of using clean wallets, while another micro-strategy entity supporting Hyperliquid has also explicitly mentioned connections to Paradigm.
Currently, this brother has tracked down 19.13 million HYPE tokens, accounting for about 6% of the actual circulating HYPE. If true, Paradigm would become the largest investor in HYPE during this round.
$HYPE