Overview
- Multicoin Capital, which unstaked 1.96 million HYPE on Wednesday, transferred about 395,570 HYPE to Coinbase Prime in moves on-chain monitors say look like preparation to sell.
- Selini Capital unstaked roughly 504,000 HYPE, leaving the two firms with more than $150 million of recently unlocked tokens that could add to circulating supply.
- The token has fallen about 15% over the past seven days to near $58 and broke below a short-term symmetrical-triangle pattern and the $54–$55 support zone, with RSI near 40 and money-flow indicators turning negative.
- Spot HYPE ETFs saw net outflows in July, including a 90,580 HYPE single-day withdrawal, while derivatives open interest climbed to about $11–$11.5 billion, a level that can magnify price swings through leveraged liquidations.
- Roughly 40–44% of HYPE remains staked and protocol fees fund open-market buybacks, which can cushion declines, but market participants will watch exchange inflows, ETF flows, and open interest for clear signs of profit-taking or further downside.