A smart money address allegedly deposited $11.77M HYPE into Kraken within 10 days, achieving a return rate of 2214%.

On October 8, according to Ai Yi monitoring, a smart money address (0x13d…cfa8a) with a cost basis as low as $3.87 was suspected of reducing its position by $11.77 million worth of HYPE within 10 days. Since September 28, this address has cumulatively deposited 131,421 HYPE to Kraken at a price of $89.56; if sold, this would yield a profit of $11.26 million, representing a 2214% return.

Previously, Hyperliquid Labs announced on September 30 that it would conduct an OTC sale of 3.75 million HYPE (approximately $329 million), with the buyer being a single institution that will not sell on public markets. The address was first suspected of selling prior to the announcement, with two subsequent suspected sales occurring yesterday and one hour ago.