According to CoinMeta, as monitored by onchain and lens, a trader identified as Hyperliquid released the pledge on 20,000 HYPE (approximately $1.15 million) three hours ago and transferred them to Kraken. This account had previously released a pledge last week and transferred 24,950 HYPE to Kraken. Since December 2025, they have accumulated a total of 1.37 million HYPE purchases, spending $47.79 million, and sold 1.25 million HYPE for $45.47 million, with a spot trading volume of $93.25 million. The trader has incurred a cumulative loss of $406,000.