$HYPE It's back near 88.
The unlock-related selling pressure we were concerned about is reportedly being absorbed through institutional OTC deals, with 3.75 million tokens not going directly onto the order books. In addition, the protocol has set aside $1.26 billion for buybacks and locking up tokens.
【Bullish case】Large token amounts are being traded OTC, so the immediate pressure to dump on the market may be lower. On top of that, buybacks and burns funded by protocol revenue could further tighten supply and demand.
If this round of shakeout is over, the next thing to watch is whether HYPE can break back toward its previous highs.
The unlock-related selling pressure we were concerned about is reportedly being absorbed through institutional OTC deals, with 3.75 million tokens not going directly onto the order books. In addition, the protocol has set aside $1.26 billion for buybacks and locking up tokens.
【Bullish case】Large token amounts are being traded OTC, so the immediate pressure to dump on the market may be lower. On top of that, buybacks and burns funded by protocol revenue could further tighten supply and demand.
If this round of shakeout is over, the next thing to watch is whether HYPE can break back toward its previous highs.