Whales, institutions continue to accumulate HYPE; Galaxy Digital withdraws $12.6M

Whales and institutional investors are continuing to accumulate HYPE, according to a report from Lookonchain. The on-chain analytics firm noted that Galaxy Digital withdrew 179,000 HYPE, valued at approximately $12.62 million, from Coinbase in the past seven hours. Additionally, a new wallet address, "0x6436," withdrew another 135,824 HYPE (around $9.73 million) about eight hours ago. This new address has withdrawn a cumulative total of 399,730 HYPE, worth about $28.92 million, over the past two days.