Aftermath of 3.75M HYPE OTC Trade Emerges: ICE Suspected of Transferring 625K HYPE to TradeXYZ

on October 29, according to MLM monitoring, of the 3.75 million HYPE sold by an address via OTC trading last month, 3.125 million were staked to a wallet and delegated to validators partnered with Hyperliquid Strategies and Unit, while the remaining 625,000 HYPE was transferred to another wallet on HyperEVM. After lying dormant for nearly three weeks, this wallet sent 1 HYPE to a new wallet yesterday as a test transaction, and about an hour ago, the remaining 625,000 HYPE was fully transferred to this new wallet and cross-chain transferred from HyperEVM to HyperCore.

MLM stated that the new wallet received funds on that day through multiple intermediary addresses, while the source funding wallets are linked to multiple wallets used by TradeXYZ to purchase tokens on Hyperliquid. Although the specific purpose of this transaction cannot currently be confirmed, one possible explanation is that ICE may be the buyer in the previous OTC trade of 3.75 million HYPE, and the 625,000 HYPE may have been transferred to TradeXYZ as part of ICE's investment.