According to CoinMeta, Cumberland recently transferred approximately 170,000 Hyperliquid tokens to exchanges Coinbase and Bybit, which may indicate that they are preparing to sell them. This action occurred after Hyperliquid tokens hit a new high on Thursday. Although the selling pressure was temporarily contained, market sentiment could be affected by the transfer of Cumberland. According to Farside data, Hyperliquid ETF has seen a capital inflow of 56.8 million US dollars in the past week, which has driven up prices. Hyperliquid ETF currently manages assets worth about 350 million US dollars. The amount of tokens transferred this time, which accounts for about 4% of the total held by institutions, could trigger the next wave of selling pressure.