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According to COINOTAG and on-chain monitor Ashes Monitor, the address qianbaidu.eth initiated sales of HYPE after purchasing 431,000 tokens on September 8 for 20.57 million USDC (≈$47.7 per token), with disposals commencing two hours ago at $56.
The partial sell-off at the higher execution price implies a paper gain of roughly $3.45 million, or about +16%, on the original stake; on-chain metrics suggest this is a tactical position adjustment rather than distressed liquidation.
Market participants should monitor ensuing on-chain flows and liquidity depth, as such profit-taking can influence short-term price dynamics and inform execution and risk-management decisions for traders and institutional allocators.
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