Investment giant Paradigm may be the owner of a significant stash of HYPE tokens, currently valued at $765.4 million.
Investment Data of Paradigm
According to transaction data, wallets believed to belong to Paradigm hold a total of 19,134,900.46 HYPE. These assets were purchased at an average price of $16.46, totaling approximately $315 million, and are currently generating approximately $450 million in profit.
Methods of Acquiring HYPE Tokens
While Paradigm has not officially shared any wallet addresses, on-chain analysis suggests the investor began purchasing through FalconX and continued via Wintermute since November. The timing and nature of large HYPE withdrawals from FalconX wallets strengthen suspicions that these addresses may belong to Paradigm.
Current Situation with HYPE
At the time of writing, HYPE is trading at $38.05, 23% off its all-time high. The token is down 12% in the past week.
In conclusion, Paradigm is likely actively investing in HYPE tokens, as evidenced by significant volumes and the current market situation.