A whale secured nearly $140 million profit after holding a HYPE position for a year, recently selling 969,595 HYPE worth approximately $79.18 million on Coinbase Prime and FalconX. Multicoin Capital sold 75% of its peak position and still holds $91 million in HYPE, having recently deposited 404,000 HYPE ($34.2 million) on Coinbase Prime. Hashdex included HYPE in its NCIQ ETF with a 3.4% allocation, creating approximately $14.7 million in exposure, which is less than Multicoin’s recent deposit. ETF inclusion alone cannot absorb the full scale of institutional selling pressure yet, but could create a regular demand channel as fund inflows increase.
Source: Read the original article
