Andrew Tate deposited 20,950 HYPE tokens worth $1.87 million to Binance today. On-chain tracking data from the @lookonchain account on X identified the transfer as an early signal of an impending asset sale. HYPE serves as the native token of the Hyperliquid network, a decentralized perpetual exchange (DEX) that facilitates trades for on-chain traders.
However, this multi-million dollar deposit to the exchange reveals only half of his portfolio’s history.
A $4.48 Purchase Price Two Years Ago
Blockchain records reveal that this HYPE position originated two years ago. At that time, Andrew Tate spent $550,000 to buy a total of 122,827 HYPE tokens from the market, securing an average acquisition price of $4.48 per token. Following that initial investment, he held the HYPE balance in his personal wallet through crypto market volatility without moving it to major exchanges.
Today’s deposit to Binance marks Tate’s first liquidity withdrawal from his original HYPE portfolio. His decision to transfer only 20,950 tokens indicates that he declined to liquidate his entire position in a single transaction.
How Much Remains Outside Exchanges?
A balance check of his wallet address reveals that he still holds 63,550 HYPE away from open market liquidity. These remaining assets held in his private wallet carry a valuation of $5.62 million based on current market rates. When combining the Binance deposit with the tokens left in his original address, his profits from the HYPE trade have climbed past $7.24 million. His initial capital of $550,000 has delivered a return of exactly 1,317%.
This partial transfer demonstrates how market participants secure profit margins gradually. Tate locked in liquidity through a centralized exchange while keeping the majority of his holdings untouched. Reported by @lookonchain on X.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
