On-chain analysis indicates that approximately 625000 units HYPE may belong to Trade.xyz, but this has not been confirmed
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AT A GLANCE
On-chain analysis states that the flow of approximately 625000 tokens HYPE strongly points to Trade.xyz, but the buyer and ownership have not been confirmed.
Article
🔍 On-chain Detective | Analysis: Over-the-counter sales last month 3750000 tokens HYPE approximately 625000 tokens pointing to Trade.xyz BlockBeats reported that October 29, on-chain analyst MLM posted that, of the 3750000 tokens of HYPE sold over the counter last month, 3125000 tokens have been staked to HYPE treasury company Hyperliquid Strategies (PURR) and Unit’s validator wallets, while the remaining 625000 tokens were transferred to HyperEVM another address and left idle for nearly 3 weeks before being transferred to a new address yesterday, with 1 tokens of HYPE used as a test. The new address received funds through multiple hops that day; the funding address was multiply linked to the address used by Trade.xyz to purchase the ticker on Hyperliquid. Subsequently, 625000 tokens of HYPE were transferred to the new address and moved by HyperEVM to Hypercore.
The analyst noted that the main hypothesis is that ICE is indeed the buyer of 3750000 tokens of HYPE, but this has not yet been confirmed. The 625000 tokens may have been transferred to ICE as part of an investment in Trade.xyz. On-chain links strongly indicate that this batch of tokens belongs to Trade.xyz.
Original link https://m.theblockbeats.info/flash/374414
Key points
01
BlockBeats, citing an on-chain analyst,MLM reported that __ was sold over the counter last month, 3750000 units HYPE。
02
Of these, 3125000 units were staked to Hyperliquid Strategies (PURR) and Unit validator wallets.
03
The remaining 625000 units were transferred to HyperEVM another address and remained idle for nearly 3 weeks before __ units were transferred to a new address as a test: 1 units HYPE.
04
This new address received funds through multiple hops on the same day; the source address is Trade.xyz multiply associated with the address used to purchase ticker on Hyperliquid.
05
Subsequently, 625000 tokens HYPE were transferred to this new address and moved by HyperEVM to Hypercore。
06
Analysts mainly speculate that ICE is indeed the buyer of 3750000 tokens HYPE, but this has not been confirmed.
07
Analysts say that 625000 tokens HYPE may have been transferred to ICE as part of Trade.xyz's investment; on-chain links strongly indicate its ownership.Trade.xyz。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a speculative analysis based on on-chain addresses and fund transfers: some HYPE ultimately entered Hypercore, and the relevant addresses are associated with Trade.xyz's historical purchase addresses, but these links alone still cannot confirm the buyer or token owner.
Why it matters to readers
If the address attribution is correct, it could alter the market's view of Trade.xyz and institutional participation HYPE; however, it has not yet been confirmed whether the tokens belong to Trade.xyz, nor is there any indication that it has sold them.
Fund flows between on-chain addresses may provide clues, but address associations do not constitute identity confirmation; confirmation from the relevant entities or additional on-chain evidence is needed.
Risks and unknowns
ICE Whether the buyer of 3750000 tokens HYPE has not yet been confirmed.
625000 tokens HYPE whether they are actually owned by Trade.xyz has not yet been confirmed.
The report is based on an on-chain analyst's inference from address associations; the relevant associations were not independently confirmed in the original text.
It is unknown whether the tokens will subsequently be sold, staked, or used for other purposes.
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Related concepts
Over-the-counter transaction
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