Hyperliquid Platform Witnesses Significant HYPE Sell-off

On April 27, Hyperinsight reported a substantial sell-off of HYPE tokens on the Hyperliquid platform. According to BlockBeats On-chain Detection, the address starting with 0xa44 initiated a large-scale reduction of its HYPE holdings after the token's price rebounded above $42. The sell-off was executed in five batches using the TWAP (Time-Weighted Average Price) method, totaling 115,470 tokens. If the current sell-off is completed, the address's HYPE holdings will decrease to approximately $4 million. Additionally, the address holds a small amount of HYPE short positions and has set a market buy order at $41.5 to close these positions.