HYPE has fallen from a high of $70 to $52, a drop of more than 30%, with the market blaming team token unlocks and sales. According to PANews, on-chain data shows the team actually sold $165 million, while protocol buybacks reached $364 million. PANews also reported that cumulative buybacks have exceeded $1 billion. Whale selling and net outflows from ETFs were identified as the main sources of pressure. Means $HYPE did not fall only because the team sold tokens. The post says team sales were relatively smaller than the protocol’s buybacks, so the bigger reason for the price drop was likely broader market selling, especially from whales and ETF outflows.