According to CoinMeta, as reported by on-chain analyst AI, a certain sophisticated investor is suspected of reducing their holdings of $hype by $11.77 million over the past 10 days, at a cost as low as $3.87 per coin. Since September 28th, this account has accumulated a total of 131,421 hype coins, purchased at a price of $89.56 each. If sold, they would realize a profit of $11.26 million, representing a return rate of up to 2214%. On September 30th, Hyperliquid Labs announced plans to sell 3.75 million hype tokens (worth approximately $329 million) off-exchange; the buyer is a single institution and the tokens will not be sold through public markets. The first suspected sale by this sophisticated investor occurred before this announcement, with the subsequent two sales taking place yesterday and 1 hour ago, respectively.