Hyperliquid faces volatility as major holders unstake $18M and move tokens to exchanges amid whale selling.

Hyperliquid's token HYPE has entered a volatile phase after major holders unstaked about 421,879 tokens worth $18.08M, with large transfers to exchanges like Bybit and OKX signaling potential selling. Another large wallet linked to Matrixport deposited over 403,000 HYPE and started selling, increasing short-term supply and bearish pressure. Despite this, buyers have so far absorbed the liquidity, keeping long-term bullish sentiment intact, though short-term volatility and a possible price correction are expected. The key factor will be whether demand can keep pace with the increased supply from whales.