HYPE drops 8% as $150M in locked tokens queue for withdrawal by Multicoin, Selini, Galaxy
HYPE token price fell sharply after three major crypto funds lined up nearly $150 million worth of tokens to be withdrawn from lockup, signaling potential selling pressure.
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HYPE token experienced a sharp decline, briefly dropping 8% from local highs, after three major crypto funds lined up nearly $150 million worth of tokens for withdrawal from lockup. The funds involved are Multicoin Capital, Selini Capital, and Galaxy Digital. The move signals potential selling pressure as these large holders prepare to access their locked tokens. The price drop reflects market concerns over increased supply hitting the market. Traders are closely watching for further volatility as the withdrawal process unfolds.
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