ChainCatcher report: According to on-chain analyst MLM, Paradigm has unbonded approximately 2.55 million HYPE tokens over the past two days through 15 wallets, valued at around $224 million, representing 17.85% of its current 14.26 million HYPE tokens staked on HyperCore. MLM notes that Paradigm conducted a similar large-scale unbonding operation several weeks ago, after which it consolidated the tokens into new wallets and restaked them; thus, a similar pattern is expected this time as well.
Paradigm unstakes $224M in HYPE over two days, possibly consolidating wallets
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Summary
On-chain data reveals that Paradigm unstaked 2.55 million HYPE tokens, worth $224 million, over two days. This accounts for 17.85% of the 14.26 million HYPE tokens staked in HyperCore. A similar move occurred weeks ago, with the tokens later consolidated into new wallets and restaked. Analysts suggest the same pattern may unfold this time. The activity coincides with ongoing on-chain developments and speculation surrounding new token listings.
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