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Pastel Alpha Founder Converts ASTER Holdings to USDC, Buys and Stakes HYPE

Pastel Alpha founder Cooker converts 2 million ASTER tokens into USDC, using the funds to acquire and stake HYPE tokens on HyperLiquid, reinforcing his DeFi involvement.

USDC
HYPE

Summary

Cooker, the founder of Pastel Alpha, sold 2 million ASTER tokens at an average price of $1.34, receiving 2.68 million USDC. He used the funds to purchase 66,485 HYPE tokens at $40.32 each on HyperLiquid, which were then staked on Kinetiq, further solidifying his participation in decentralized finance.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin used in cryptocurrency trading and payments.
  • Token Staking: The process of locking cryptocurrency tokens in a blockchain protocol to support network operations and earn rewards.
  • Hyperliquid: A decentralized exchange platform that facilitates cryptocurrency trading and other DeFi activities.