Andrew Tate Deposits $1.87 Million in HYPE to Binance, Still Holds $5.62 Million
Andrew Tate deposited 20,950 HYPE tokens worth $1.87 million into Binance on Oct. 3, according to blockchain analytics firm Lookonchain. The transfer leaves Tate holding another 63,550 HYPE valued at $5.62 million, based on the figures shared by the analytics firm.
Lookonchain said the tokens came from a wallet associated with Tate’s X account, @Cobratate. The on-chain transaction shows the HYPE was moved to Binance, although the transfer itself does not establish whether the tokens were subsequently sold or what Tate intends to do with them.
Tate’s HYPE Position
According to Lookonchain, Tate acquired 122,827 HYPE at $4.48 per token about two years ago, with the purchase valued at $550,000 at the time.
The wallet still holds 63,550 HYPE, which Lookonchain valued at $5.62 million. The remaining tokens were not included in the latest Binance deposit described by the analytics firm.
Lookonchain calculated Tate’s total profit from HYPE at $7.24 million, representing a 1,317% return. Those figures reflect the wallet activity and valuations cited by the analytics firm rather than confirmation of realized proceeds from the latest transfer.
The Oct. 3 transaction involved 20,950 HYPE, worth approximately $1.87 million at the time of the transfer. The movement was also reported by CoinNess, which noted that there was no confirmation that Tate had sold the deposited tokens.
Exchange Transfer Does Not Confirm a Sale
A deposit to a centralized exchange such as Binance records the movement of tokens into an exchange-controlled wallet, but by itself does not demonstrate that a sale has occurred. The tokens can remain on the exchange or be used for other transactions.
For that reason, the latest transfer should be distinguished from a confirmed HYPE sale. The available information establishes the deposit and the reported holdings, while the subsequent use of the 20,950 HYPE remains unconfirmed.
The reported figures leave Tate with a substantial HYPE balance even after the Binance transfer. Lookonchain’s latest calculation puts the remaining holdings at 63,550 HYPE worth $5.62 million, while its estimate of cumulative HYPE profit stands at $7.24 million with a 1,317% return
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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