PANews reported on November 12 that, according to MLM monitoring, several hours ago, Paradigm staked 14.7 million HYPE tokens (worth $581 million) and transferred 3.02 million HYPE tokens (worth $119 million) to Hyperevm; the latter then transferred these tokens to a newly created wallet, which is likely used for Sonnet.

Most of the staked HYPE has been delegated to Anchorage by Figment nodes, but a portion of the staked balance remains unstaken. A total of 1.41 million HYPE (worth $55.9 million) exists unstaken in their spot balances, outside of the staked balance. This has driven the SWPE (supply-weighted price-to-earnings ratio) down to a record low of 1.90.