HYPE falls as crypto funds queue nearly $150M in locked tokens for withdrawal
CoinTelegraph·
60-second summary
HYPE briefly drops 8% from its local highs as prominent crypto funds Multicoin Capital, Selini Capital, and Galaxy Digital queue nearly $150 million of the token for withdrawals, sparking a decline in investor sentiment. This significant outflow weighs on the market, potentially influencing the overall crypto landscape and token prices. Market participants closely watch the situation.
HYPE briefly fell 8% from its local highs as Multicoin Capital, Selini Capital and Galaxy Digital queued nearly $150 million of the token for withdrawals.