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Kain Warwick’s Strategic Move: $300K in ILV Sold to Acquire HYPE Tokens
Kain Warwick, the founder of Synthetix, has made headlines with a major trade. Using wallet 0xed4, which is believed to be his, Warwick sold 10,000 vested ILV tokens, worth $300,000.
The transaction involved converting the ILV to 93 WETH, swapping WETH for 300,000 USDC, and then bridging the stablecoins to Hyperliquid. There, he purchased 13,768.6 HYPE tokens at an average price of $21.77.
Despite this notable sale, Warwick continues to hold 25,000 ILV tokens in his wallet, currently valued at $817,000. This indicates that while he is diversifying his portfolio, he maintains confidence in Illuvium’s long-term potential.
Hyperliquid Assistance Fund Drives Demand for HYPE
Warwick’s investment coincides with a surge in HYPE purchases by the Hyperliquid Assistance Fund. Over the past two days, the fund has acquired a staggering 392,130 HYPE tokens, valued at $8.24 million, at an average price of $21. This consistent buying activity has contributed to rising demand for HYPE, drawing attention from market participants.
Warwick’s decision to allocate $300,000 from ILV to HYPE highlights growing interest in Hyperliquid’s ecosystem. His calculated trade reflects a strategic diversification of assets while leveraging liquidity and market opportunities.
With both Hyperliquid’s fund and influential figures like Warwick backing HYPE, the token’s future trajectory will likely remain a focal point for crypto investors.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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