$HYPE really is a good project, but does nobody really think the price has risen too high?
Yesterday, there was nearly 1.2 billion worth of selling pressure unlocking, yet it still went up—who exactly is buying?
The key point is that the total circulating supply of $HYPE is only 18 billion, and this time another 6.7% of selling pressure needs to be added. And it’s all shares belonging to teams who are in profit by several times or even dozens of times, plus community airdrops and foundation allocations—aren’t these basically textbook selling pressure?
This price action is hard to understand. The buyback from fees plus inflation seems to offset each other at around the 30 range, and yet it keeps climbing all the way to 80…
Yesterday, there was nearly 1.2 billion worth of selling pressure unlocking, yet it still went up—who exactly is buying?
The key point is that the total circulating supply of $HYPE is only 18 billion, and this time another 6.7% of selling pressure needs to be added. And it’s all shares belonging to teams who are in profit by several times or even dozens of times, plus community airdrops and foundation allocations—aren’t these basically textbook selling pressure?
This price action is hard to understand. The buyback from fees plus inflation seems to offset each other at around the 30 range, and yet it keeps climbing all the way to 80…