#夏日创作营 Multicoin Capital Unstaking HYPE and Its Impact on HYPE Price Action
On July 21, the well-known crypto investment fund Multicoin Capital unstaked about 1.96 million HYPE tokens (worth about $120 million) from three wallet addresses; these tokens had only been staked for roughly two months.
In the prior week, a wallet associated with a16z also transferred about $28 million worth of HYPE to exchanges, causing the price to drop by about 12% in a single day. Another institution, Selini Capital, also unstaked about 504k HYPE tokens (about $31 million).
Multiple institutions reduced positions