EL7.AI
CryptoMedium•26 October 2026•
2 min read

494,310 HYPE Deposited Into Coinbase in 24 Hours, Worth $37.83 Million

Key Facts

1Three wallets deposited 494,310 HYPE into Coinbase over 24 hours through October 26, valued at $37.83 million at the time of reporting.
2HYPE traded between $75.2607 and $77.5582 in the October 25 session.
3HYPE’s displayed price on Binance was $75.4, and its displayed all-time high was $97.98.
4Hyperliquid’s total value locked was $8.32 billion on October 23, compared with $9.069 billion on September 24.

Three wallets, potentially belonging to a single whale, deposited 494,310 HYPE tokens into Coinbase over 24 hours through October 26, valued at $37.83 million at the time of reporting, according to transaction-tracking platform Lookonchain. The transfer puts a large quantity of tokens on an exchange, where they could be sold. But the deposit does not confirm that a sale actually took place. AMBCrypto reported that large deposits to exchanges have preceded sell-offs in many cases. The report added: "Depositing tokens on exchanges does not always mean they are being sold."

The transfer came as HYPE traded near $75, after ranging between $75.2607 and $77.5582 in the October 25 session, according to Investing.com’s historical price record. The page showed the token’s displayed all-time high at $97.98. The displayed price was therefore below the recorded peak at that snapshot. These levels place the deposit in the context of a decline from the peak, without proving that the transfer caused the drop.

AMBCrypto described the $75 level as a technical test point and reported a -DI reading of 26 points, versus 11 points for +DI, while ADX stood at about 28 points. The report interpreted these readings as supporting a strong downtrend when it prepared its analysis on October 26. By contrast, Investing.com’s technical summary classified the trend as a "strong buy" at 10:00 GMT that day. The summary recorded RSI(14) at 56.528 points and ADX(14) at 19.043 points. The readings reflect different technical assessments from different sources at different times, and neither establishes the subsequent direction of the price.

At the platform-activity level, Hyperliquid recorded total value locked of $8.32 billion on October 23, according to DefiLlama data, compared with the period’s highest value cited in the record, $9.069 billion on September 24. DefiLlama also reported that the protocol generated $83.24 million in fees over the last 30 days, including $66.48 million in protocol revenue. In a market snapshot at 08:45 UTC on October 26, 24-hour trading volume in HYPE perpetual futures was $292.6 million, and open interest stood at $1.61 billion, according to HyperAcademy, citing official Hyperliquid data. These indicators place the transfer within an active market for the futures and token, while its potential significance as a sell signal remains uncertain.

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