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Whale sells $28M in HYPE tokens, causing a 12% price drop in two days.

Market News
17 Jul 2026, 06:53 WIB
Crypto Briefing
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Bearish
Whale sells $28M in HYPE tokens, causing a 12% price drop in two days.

A major holder sold over 443,000 HYPE tokens worth around $28 million near all-time highs, triggering a 12% price decline in 48 hours. The proceeds were moved to Hyperliquid and other exchanges, suggesting potential further selling or leveraged short positions. Despite Hyperliquid's buyback program reducing circulating supply, large whale sales continue to create short-term volatility. Traders should monitor open interest on Hyperliquid's perpetuals market for signs of further price moves.

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