BlockBeats News, October 19th, according to MLM monitoring and analysis, multiple wallet clusters related to HYPE are suspected to be controlled by the same entity, involving a total of 12.26 million HYPE, and highly coinciding with the activity of the well-known on-chain whale, Technorevenant.
Analysis shows that these wallets have exhibited consistent transaction times, execution patterns, and protocol usage habits over a period of time. Among them, some wallet clusters had previously established large Aster hedging positions on Hyperliquid, coinciding with the HYPE sell-off behavior. If Technorevenant’s identified wallets are included, its total HYPE holdings once reached 14.66 million coins (peaking at around $870 million), and then began to sell off in batches.
Currently, the relevant wallets still hold about 9.59 million HYPE (about $347 million), of which 2.56 million coins have been unlocked, while the remaining portion is in a staking state. At the same time, Technorevenant also holds about 1.42 million HYPE (around $51.4 million) in the DeFi protocol on HyperEVM, and has borrowed 17.7 million USDT0 against this collateral.
Multiple wallets involved in the HYPE sell-off share the same API key characteristics with Technorevenant’s other addresses, and their transaction execution patterns are almost identical. This sign has led to speculation from the public that these wallets are highly likely to be controlled by the same person or team.
