Blockchain data from Arkham shows a wallet suspected to be connected to Grayscale Investments has accumulated more than $10 million worth of Hyperliquid over the past week. The address reportedly sourced HYPE through exchanges and OTC firms including Wintermute, FalconX, Coinbase, and Flowdesk. The wallet now holds around 176,050 HYPE worth nearly $9.8 million, while another 149,100 HYPE was transferred to the Hyperliquid System Address. The activity is drawing attention because it may signal growing institutional interest in the token.
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