TLDR:
- Hyperliquid Strategies moved $411M in HYPE across 32 wallets from HyperEVM to Hypercore network
- The transfer represents 3.54% of circulating supply and exposes complete treasury wallet structure
- Three wallets began staking 425K HYPE worth $14.5M immediately after the bridge operation
- Blockchain data suggests potential buying activity expected in coming days from the treasury firm
Hyperliquid Strategies has executed a significant token transfer worth $411 million to Hypercore.
The treasury company moved 12 million HYPE tokens across 32 separate wallets. This represents 1.2% of the total supply and 3.54% of circulating tokens. The transfer marks a strategic shift in how the firm manages its digital assets.
Major Token Bridge Operation Exposes Full Wallet Structure
The transfer involved bridging tokens from HyperEVM to Hypercore. Hyperliquid Strategies distributed the assets across 32 distinct wallet addresses.
Each wallet received a portion of the 12 million token allocation. The operation revealed the complete structure of the company’s holdings.
MLM first reported the transfer through social media channels. The data showed precise wallet addresses and transaction amounts. Three wallets received initial staking allocations totaling 425,000 HYPE. This portion represents approximately $14.5 million in current market value.
The company operates under the name Hyperliquid Strategies Inc. It manages in-kind HYPE contributions for institutional purposes. The firm’s decision to bridge all tokens simultaneously created transparency. Market participants can now track the exact distribution across wallets.
Token holders observed the transfer through blockchain explorers. The 32 wallets range from addresses starting with 0x4f86 to 0xf431.
Each address now holds a verified portion of the treasury allocation. The public nature of blockchain technology made the entire operation visible.
$PURR (Hyperliquid Strategies Inc) just moved all their in-kind HYPE contributions to Hypercore, fully exposing every wallet.
In total, 12M HYPE ($411M) was bridged from HyperEVM to Hypercore across 32 wallets, and they already began staking the HYPE, transferring a total of…
— MLM (@mlmabc) December 3, 2025
Staking Operations Begin with $14.5M Allocation
Hyperliquid Strategies initiated staking immediately after the transfer. Three specific wallets received staking balances. The combined total reaches 425,000 HYPE tokens. This suggests the firm plans to earn yields on its holdings.
The staking operation indicates a long-term holding strategy.
Locked tokens typically cannot be sold immediately. This reduces potential selling pressure on the market. The move signals confidence in the protocol’s future performance.
MLM noted expectations for additional buying activity. The prediction suggests Hyperliquid Strategies may acquire more tokens. Such purchases would increase the firm’s overall position. Market observers are monitoring the wallets for further movements.
The transfer occurred during a period of stable HYPE pricing.
Token values remained consistent throughout the operation. No significant price volatility accompanied the large-scale movement. This suggests the transfer was anticipated or well-coordinated.
Blockchain data confirms all 32 wallets are now active. The addresses hold varying amounts of HYPE tokens. Staking balances continue to accrue rewards. The treasury operation establishes a clear on-chain footprint for tracking.
