Analysis: 625,000 HYPE may belong to TradeXYZ and could be transferred as part of ICE investment

According to market news monitoring, last month, out of 3.75 million HYPE traded over-the-counter, 3.125 million were staked to a single wallet, with validators being Hyperliquid Strategies and Unit; the remaining 625,000 were transferred to another wallet of HyperEVM and remained idle for nearly three weeks.

Yesterday, that wallet sent 1 HYPE to a new wallet; this new wallet received funds from several transfers on the same day, with the funds coming from wallets associated with TradeXYZ related to the purchase of assets on Hyperliquid. Currently, 625,000 HYPE has been transferred to this new wallet and moved from HyperEVM to Hypercore. Market speculation suggests that ICE is the buyer of these 3.75 million HYPE, but this has not yet been confirmed; this 625,000 HYPE may have been transferred to TradeXYZ as part of ICE's investment, with on-chain associations indicating that this portion of HYPE may belong to TradeXYZ.