The whale's $2.03M deposit
The deposit, made by a single whale, increases the amount of HYPE available for trading. When a large holder sends tokens to an exchange, it often signals an intention to sell, which can weigh on price. The exact identity of the whale isn't known, but the size of the transfer is enough to move the market. The $2.03 million figure represents a notable addition to the token's circulating supply, and it comes at a time when the market is already absorbing additional tokens from positive netflows.
Whales are a common feature in crypto markets, and their moves are closely watched because they can shift supply and
