On-chain data shows that a major holder who had been dormant for over a year suddenly reappeared. Within just three days, they unstaked a total of 631,889 HYPE tokens through multiple wallets in batches, corresponding to a market value of approximately $20.3 million. This move has attracted attention.

This HYPE was not purchased recently. According to tracking, this address entered the market about three weeks after the TGE, with the purchase funds coming from Tornado Cash mixing services. From the time of purchase to today, it has been silent for over a year. Now, suddenly unstaking on a large scale, the rhythm looks quite interesting.

In terms of position proportion, the amount unstaked this time accounts for about 14% to 15% of this address's total HYPE holdings, indicating that the entity still holds a considerable position. Whether it is partial profit-taking or freeing up liquidity for upcoming operations remains uncertain. However, in the current volatile crypto market environment, the actions of such major holders are often worth paying close attention to.