Institution pledges over 1.136 million HYPE at a new high price

According to on chain analyst Yu Jin's monitoring, institutions continue to buy and pledge HYPE, pushing its price to a new high of $75.8 this morning. On chain data shows that in the past 10 hours, at least 1.136 million HYPEs (approximately $824 million) have been extracted and pledged from trading platforms by institutions such as Bitwise Hyperliquid ETF, a16z, Galaxy Digital, etc. Among them, Bitwise Hyperliquid ETF proposed 336000 HYPEs (approximately $244 million) from Coinbase; A16z proposed 300000 HYPEs (approximately $216 million) from platforms such as Kraken and OKX; Address 0x279... BA8 proposes 191000 HYPE (approximately $138 million); Address 0x9C4... 6FC proposes 160000 HYPE (approximately $117 million); Galaxy Digital deposited 147000 HYPEs (approximately $109 million).