HYPE falls as crypto funds queue nearly $150M in locked tokens for withdrawal
Cointelegraph 2026-07-23 11:24:09
Context: The cryptocurrency market experienced a sudden shift as HYPE's value dropped 8% from its local highs. This decline occurred after several prominent investment firms, including Multicoin Capital, Selini Capital, and Galaxy Digital, prepared to withdraw nearly $150 million worth of locked HYPE tokens. The sudden movement of these funds has sparked interest and concern among market observers.
Key Facts
- Multicoin Capital, Selini Capital, and Galaxy Digital queued nearly $150 million worth of HYPE tokens for withdrawal, causing a temporary 8% drop in the token's value from its local highs.
- The withdrawal of these funds involved locked tokens, which are typically held for a specified period or under certain conditions before they can be accessed.