HYPE Falls 16% in 15 Days Amid Institutional Unstaking and Sell-Offs

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HYPE
$57.7813.71%
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HYPE has dropped 16% over 15 days, falling from $72.5 to $60.9, as the Fear & Greed Index reflects growing pessimism. Institutional unstaking and sell-offs have accelerated the decline. Multicoin Capital unstaked 1.96 million HYPE ($120 million), Selini Capital unstaked 504,000 HYPE ($31.7 million), and A16z-linked addresses sold 527,000 HYPE ($25.95 million) over two days. Altcoins under observation remain under pressure as large holders exit their positions.

ChainThink reports that, as of July 22, market data shows HYPE fell from $72.5 to $60.9 over the past 15 days, representing a cumulative decline of approximately 16%. During the same period, institutional and whale holders engaged in unstaking and selling activities.

This early morning, Multicoin Capital unstaked 1.96 million HYPE tokens from three wallets, valued at approximately $120 million; these tokens were staked about two months ago.

Its June report mentioned that HYPE could reach $319 by 2028. Yesterday, Selini Capital requested to unstake 504,000 HYPE, worth approximately $31.7 million.

This address previously deployed the HIP-3 Dreamcash market; after announcing the market's closure, Selini is now unstaking the HYPE required for deployment and maintenance, realizing approximately $20 million in investment profits.

Additionally, it was disclosed that on July 18, a whale address associated with a16z sold 421,796 HYPE tokens within 24 hours, valued at approximately $25.3 million;

On July 17, a suspected a16z-affiliated execution address sold 105,400 HYPE spot tokens in a single day, with a trading volume of approximately $6.48 million at an average price of about $61.49.

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