HYPE fell from $72 to $52 over the past month as multiple institutions unstaked and sold, while a 1.38 million-token leveraged position moved closer to its forced-close threshold.
HYPE fell from $72 to $52 over the past month, a 28% drop, after multiple institutions unstaked HYPE (withdrawing locked tokens) and sold their holdings, on-chain analyst Ember said. The selling pressure has also left a whale long position of 1.38 million HYPE worth $72.15 million close to a $47.6 liquidation price (forced-close threshold for leverage), roughly 9% below the spot price, after more floating profit was taken out as margin.