Hyperliquid's HYPE token sees $82M staked by Multicoin Capital, boosting price to $43 amid shrinking supply.

Multicoin Capital staked 1.96 million HYPE tokens worth $82.06 million, signaling strong institutional interest in Hyperliquid. This staking, combined with ongoing token buybacks totaling $2 billion in burned HYPE, has reduced circulating supply and supported price stability. As a result, HYPE's price rose to $43.18, breaking resistance levels and showing bullish momentum, though downside risks remain. If current trends continue, HYPE could target $50, but active sell-side pressure could threaten its $40 support level.