Galaxy Digital and a mystery whale just swept $38M worth of $HYPE in under 48 hours!

Two large wallets have accumulated nearly $38.7 million in HYPE tokens over the past two days, with on-chain data pointing to institutional-grade conviction behind both moves.

A wallet tagged to Galaxy Digital (0xBED9) bought 158,100 HYPE — roughly $8.8 million — in a two-hour window, a pace that signals deliberate accumulation rather than opportunistic dip-buying. Separately, a newly created wallet (0x4CBB) withdrew 536,247 HYPE ($29.87 million) directly from Coinbase over the past 48 hours, a pattern consistent with an institution moving freshly purchased tokens into self-custody.

The Coinbase withdrawal is the more structurally significant signal: new wallets pulling eight-figure sums off an exchange immediately after creation typically indicate a first-time institutional entrant establishing a position, not a retail trader rotating funds. Combined with Galaxy Digital's timed buy,…