A certain SOL Early Investor's Trading HYPE Earned Over $23 Million in Just 10 Months

BlockBeats News, October 23rd, according to @EmberCN's monitoring, the [Investor/Institution who received a 1 million SOL investment allocation] has just sold the remaining 743,000 HYPE tokens (USD 28.21 million). After holding the HYPE investment for 10 months, they have now completely exited their position, earning USD 23.83 million.

They used the proceeds from selling 2.52 million HYPE tokens for 93.64 million USDC to buy 50.29 thousand SOL tokens on Solana at an average price of USD 186.2.

Their 2020 investment of 1 million SOL has now become 1.496 million SOL (USD 280 million): Over the course of 5 years, they earned 368,000 SOL in staking rewards and 127,900 SOL from the HYPE investment.

By the end of 2024, they sold 375,000 SOL (USD 70 million) and then bought 2.52 million HYPE tokens at a price of USD 27.7. In the past few days, they liquidated their HYPE position at an average price of USD 36.5, earning USD 23.83 million.