An address associated with Garrett Jin, the former chief of Bitforex exchange, has completely exited its HYPE token position, liquidating approximately 184,102 tokens valued at roughly $13.55 million. The transaction resulted in a realized profit of $2.83 million, according to tracking data shared by Lookonchain.
Following the HYPE exit, Jin—who operates under the pseudonym Garrett Bullish on social media—redirected capital into alternative positions, specifically establishing a long exposure on Uniswap’s UNI token through decentralized exchange trading mechanisms.
Broader Portfolio Positioning
Beyond these recent moves, the trader maintains substantial cryptocurrency holdings that signal ongoing bullish conviction. Jin’s portfolio includes approximately $83 million in Bitcoin long positions and $25 million in Zcash (ZEC) longs, indicating a diversified approach to major digital assets despite the tactical rotation out of HYPE.
The decision to completely divest from HYPE while simultaneously expanding exposure to established cryptocurrencies reflects a strategic rebalancing within the trader’s holdings. The timing of the exit provided favorable conditions for realizing gains, as the position closed with an approximately 21% profit margin relative to the entry valuation.
The moves have drawn attention from on-chain analytics platforms that monitor large wallet activities and institutional-scale trading patterns. Such portfolio adjustments from notable figures in the cryptocurrency industry often signal market sentiment shifts and can influence broader trading dynamics, particularly when significant capital volumes are involved.
Jin’s recent portfolio activity underscores the dynamic nature of cryptocurrency trading at institutional levels, where rapid capital rotation between assets remains a core strategy for responding to market conditions and rebalancing risk exposure across multiple positions.
