On-chain tracker Onchain Lens reported that a whale deposited 665,035 HYPE (estimated at ~$14.54M at the time of the post) into Bybit. The same tracking thread cites a reported profit of around $7.04M.
In the breakdown shared by multiple news roundups that reference the post, the whale is said to have accumulated 651,895 HYPE at roughly $11.50 per token between December 3 and December 8, 2024, then staked those tokens before the current deposit.
A whale deposit to a centralized exchange is one of the fastest sell-risk headlines in crypto socials. It is a simple story: tokens arrive at an exchange, then price watchers assume inventory is preparing to hit the spot book.
That said, exchange deposits do not guarantee selling. Large transfers can also reflect operational moves such as collateral placement for derivatives, internal rebalancing, market-making workflows, or custody changes. The signal only becomes stronger if the deposit is followed by clear exchange-side consolidation and rapid distribution toward wallets typically associated with spot liquidity.
The reported 665,035 HYPE deposit into Bybit is a high-shareability whale-flow event because it cleanly fits the classic sell-risk narrative. The decisive signal comes from follow-through: consolidation into exchange liquidity pathways and conversion behavior, versus benign custody or collateral routing that never turns into measurable spot selling pressure.
The post Whale Sends 665,035 HYPE to Bybit, Reported Profit Around $7.04M appeared first on Crypto Adventure.
Also read: Amazon (AMZN) Stock: Why 30,000 Job Cuts Won’t Shake Wall Street’s Confidence
