Whales Gone Wild: One Cashes Out, One Rakes In $10M, and HYPE Goes Up in Smoke 🔥

Large cryptocurrency whales made notable moves across several tokens in recent hours, with on-chain activity spanning $PONS, $ZEC, and $HYPE. A whale withdrew 2.25 million $PONS tokens from Binance and sold them for approximately $1.29 million in USDG and Ethereum, according to on-chain data. The transaction coincided with a 12 percent decline in the $PONS price on the day of the sale.

Separately, a whale that opened a long position of 9,810 $ZEC approximately one month ago at an average price of $517.68 saw unrealized profits climb to $9.98 million as $ZEC rose to $1,534.70. The same investor held a short position of 3,550 ETH, which was carrying an unrealized loss of approximately $2.60 million.

Hyperliquid continued its supply-reduction program by burning 26,310 $HYPE tokens over the past 24 hours at an average price of $91.86, valued at roughly $2.42 million. To date, the platform has burned a total of 48.76 million $HYPE tokens, representing 4.88 percent of the token's maximum supply and a current market value of approximately $4.50 billion. Hyperliquid reported 30-day revenue of $64.34 million and all-time cumulative revenue of $1.26 billion.