Major Crypto Investor Unstakes $57 Million Worth of HYPE
A major crypto investor, often referred to as a "whale," has unstaked $57 million worth of $HYPE tokens. This particular whale acquired the tokens 17 months ago at an average price of $18, meaning a potential profit of over $39 million if sold. The assets were deposited into FalconX and Coinbase Prime, indicating a likely intention to sell. Separately, another wallet unstaked 1.89 million $HYPE ($105.9 million). Analysts note that while unstaking can signal bearish sentiment or portfolio restructuring, it does not automatically mean the holder will sell.
This trend is growing; the volume of $HYPE awaiting withdrawal has more than doubled in a week, from $241 million to $496.6 million. Concurrently, the total amount of staked $HYPE has decreased over the past month. This shift suggests some long-term holders are adopting a bearish outlook and reducing their positions.
The $HYPE price has fallen 16.15% over the month to $54.4, with a market cap of $13.7 billion, trading in a downtrend after a recent bounce. Daily trading volume has also declined. In a related move, BitMEX co-founder Arthur Hayes sold all of his $HYPE holdings worth $18.02 million in June, despite previously offering optimistic forecasts for the cryptocurrency.
cryptonews.ru2 giorni fa 09:56
