Three wallets, likely controlled by a single whale, deposited 494,310 HYPE tokens worth approximately $37.83 million to Coinbase within the past 24 hours. The large-scale transfer signals potential selling pressure or profit-taking by a major holder of the Hyperliquid native token. On-chain monitoring firm Lookonchain flagged the coordinated deposits across multiple addresses, suggesting a deliberate move by one entity rather than unrelated traders acting independently.