According to on-chain analytics platform Lookonchain (@lookonchain), over the past week, two wallets associated with Grayscale collectively purchased 510,387 HYPE tokens (valued at approximately $24.95 million) and staked them. Notably, Grayscale previously filed an S-1 registration statement for a HYPE ETF in January this year; this significant on-chain accumulation may be closely related to its ETF strategy progression.
Grayscale-linked wallets purchase 510,387 HYPE tokens worth $24.95 million
TechFlowShare
Summary
Two wallets linked to Grayscale have purchased 510,387 HYPE tokens, totaling $24.95 million, and have staked them. This follows the firm’s ETF-related trading activity in January, when it filed an S-1 for a HYPE ETF. The on-chain activity may reflect support and resistance levels associated with its ETF strategy.
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