Whale Buys $6.06M in HYPE Tokens via Galaxy OTC

Edgen Crypto

·Feb 28 2026, 01:45

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Key Takeaways

A single whale or institution has signaled strong conviction in the HYPE token by conducting a large over-the-counter (OTC) purchase through Galaxy Digital. This move is part of a larger, sustained accumulation pattern, suggesting a calculated bet on the token's future value.

A single wallet purchased 215,056 HYPE tokens for approximately $6.06 million through Galaxy Digital's institutional OTC desk.
The transaction is part of a larger accumulation, with the same address acquiring 540,337 HYPE over the last 18 days.
Using an OTC desk for a trade of this size indicates a sophisticated buyer seeking to avoid market price impact, a hallmark of institutional activity.

Whale Executes $6.06M HYPE Token Purchase via Galaxy OTC

A single large-scale transaction has signaled significant institutional interest in the HYPE token. An entity, identified as a whale or institution, acquired 215,056 HYPE tokens, valued at approximately $6.06 million. The purchase was executed through the over-the-counter (OTC) desk of Galaxy Digital, a prominent player in digital asset services. Using an OTC desk for a trade of this magnitude is a common strategy for large buyers to avoid impacting the token's public market price and minimize slippage, indicating a sophisticated and well-capitalized market participant.

Buyer's Wallet Shows Sustained Accumulation of 540,337 HYPE

This $6.06 million transaction is not an isolated event but part of a broader accumulation strategy. On-chain data reveals that the same address has systematically acquired a total of 540,337 HYPE tokens over the past 18 days. This sustained buying pressure suggests a strong conviction in the HYPE token's future value. Such visible "smart money" movements often act as a bullish signal to the wider market, potentially attracting retail investor attention and increasing demand, which could positively impact the token's price and liquidity. The association with a major OTC desk like Galaxy also enhances the project's credibility.