A new wallet address on the Blockchain has spent over 23 million USD to buy a large amount of HYPE and UFART Tokens in a short period.
This buying activity is monitored and published by on-chain analyst Ember, showing significant asset movement from major exchanges like Binance and Crypto.com to the Hyperliquid platform.
MAIN CONTENT
The newly created wallet spent approximately 23.51 million USD transferring from Binance and Crypto.com to Hyperliquid.
The wallet purchased 466,000 HYPE Tokens equivalent to 21.45 million USD at a price of 45.69 USD per Token.
Additionally, it bought 2.16 million UFART Tokens with a total value of 2.14 million USD.
When did this new wallet address appear and what are its main activities?
A new wallet address was created in the early hours of the morning and quickly made large transfers from two major exchanges, Binance and Crypto.com, to the Hyperliquid platform.
The total transfer of 23.51 million USD in USDC indicates a high level of commitment as well as significant potential impact on the prices of HYPE and UFART Tokens in the cryptocurrency market.
Which Tokens has this address purchased and what is the value of each type?
The new address purchased a total of 466,000 HYPE Tokens worth approximately 21.45 million USD, corresponding to a price of 45.69 USD per Token.
Additionally, this wallet owns 2.16 million UFART Tokens, with a total value of approximately 2.14 million USD at a price of around 1.02 USD per Token. These two Token streams are held on Hyperliquid after the transaction is completed.
The fact that such a strong new address pumped millions into the Token could signal growing interest in this market and renewed attention from major investors.
Analysis by Ember, August 2023
What is the impact of this transaction on the HYPE and UFART Token markets?
Large transactions will help the Token's liquidity grow rapidly and could create a positive price effect as investors pay more attention to these Tokens.
At the same time, the influx of capital from new addresses could drive price increases and make the market more active, contributing to the stability and credibility of the Token within the cryptocurrency community.
Frequently Asked Questions
Is this new wallet address a whale?
Although there is no official data on identity, the large amount of Tokens purchased along with the money spent indicates that this could very well be the action of a cryptocurrency whale.
What does the amount of USDC withdrawn from Binance and Crypto.com signify?
The withdrawal of a large amount of USDC from reputable exchanges indicates ample liquidity and careful preparation to purchase Tokens on Hyperliquid.
Do HYPE and UFART Tokens have price appreciation potential?
The massive buying along with the increase in liquidity will help create positive price momentum, but investors need to consider other market factors.
Which platform is this address buying Tokens on?
The wallet executed the purchase of Tokens on the Hyperliquid platform, where Token transactions occur with good liquidity and competitive costs.
What percentage of the total supply does the bought HYPE Tokens represent?
There is no official information about the total supply of HYPE Tokens to determine the holding ratio of this purchase.
Source: https://tintucbitcoin.com/hype-ufart-duoc-vi-moi-mua-lon/
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