The crypto market tracked notable whale activity across two altcoins, with Hyperliquid’s HYPE drawing the heaviest flows and Chainlink (LINK) seeing significant self-custody transfers.
On August 13, on-chain data showed a large HYPE purchaser bought another 40,000 tokens from Coinbase, worth roughly $2.3 million. That wallet's total HYPE holdings reached 260,000 tokens after accumulation from Coinbase, Bybit and other sources over two months, with a position worth about $15.1 million.
Separately, another large investor deposited 60,000 HYPE into Hyperliquid and began selling. That whale had already realized about $1.77 million from selling 31,560 HYPE, while two TWAP sell orders remained active. One order was worth around 40,000 HYPE, or $2.1 million, with about 15 hours remaining. The same wallet sent about 1.67 million USDC to Coinbase.
For Chainlink, a whale transferred approximately 213,810 LINK worth $1.87 million to a Gnosis Safe wallet. The tokens had been withdrawn from Binance about two weeks earlier. Moving them from a centralized exchange to self-custody could suggest no immediate intention to sell, although transfers alone are not a definitive signal.
On August 14, on-chain analyst EmberCN reported an even larger HYPE movement. An anonymous whale transferred 923,700 HYPE, worth about $53.03 million, to Coinbase Prime and FalconX. The entity originally staked 2.886 million HYPE at an average price of $19.79 in early 2025. After unstaking in late July, the whale has moved 1.956 million HYPE worth around $110 million to exchanges, with estimated profits near $109 million. The whale still holds 969,000 HYPE valued at approximately $55.73 million.
The use of Coinbase Prime and FalconX points to possible over-the-counter transactions or gradual liquidation to limit market disruption. The activity underscores how large holders can shape altcoin liquidity and sentiment, especially around HYPE.
