Institutions that received a distribution of 1 million SOL have sold HYPE and bought SOL for three consecutive days

ChainCatcher news, according to crypto analyst Ember (@EmberCN), the institutional address that received a 1 million SOL investment allocation has sold HYPE for the third consecutive day and is flowing back to Solana to buy SOL.

In the past 4 hours, the address sold 675,000 HYPE, exchanged for 23.44 million USDC, and cross-chained to Solana to purchase 126,900 SOL. Since three days ago, the institution has sold a total of 1.817 million HYPE, with a transaction amount of 654.3 million USDC, at an average selling price of 36 USD; all the funds obtained were used to repurchase 350,000 SOL at an average purchase price of 186.5 USD. Currently, the address still holds 743,000 HYPE (approximately 26.12 million USD), and it is expected to continue selling to exchange for SOL in the future.