$HYPE Actually, I’m the one standing aside—more specifically, I’m taking a short position first.
Binance will officially list HYPE spot trading at 19:00 today. With a level of exchange like this opening spot, normally it should be a positive catalyst.
But the news came out this morning, and up to now HYPE hasn’t surged upward—instead, it has fallen from around $98 to about $92.
I don’t really like that.
What’s more, today there are also 5 large addresses that have started to unwind their staking at the same time, totaling 983,600 HYPE—roughly $90 million.
Note: this batch of coins still can’t be sold right now. You have to wait 7 days; it’s expected to become tradeable balance around October 1.
So I’m not saying “$90 million gets dumped immediately.”
What I care about is another issue:
With such a big positive listing catalyst right in front of us on Binance, the price still hasn’t been able to hold it—while at the same time, more potential circulating supply is coming later.
In this kind of situation, I’m not going to chase longs.
After the spot market truly opens at 19:00, if it still can’t push up, I’ll continue to hold the short side.
$HYPE
Binance will officially list HYPE spot trading at 19:00 today. With a level of exchange like this opening spot, normally it should be a positive catalyst.
But the news came out this morning, and up to now HYPE hasn’t surged upward—instead, it has fallen from around $98 to about $92.
I don’t really like that.
What’s more, today there are also 5 large addresses that have started to unwind their staking at the same time, totaling 983,600 HYPE—roughly $90 million.
Note: this batch of coins still can’t be sold right now. You have to wait 7 days; it’s expected to become tradeable balance around October 1.
So I’m not saying “$90 million gets dumped immediately.”
What I care about is another issue:
With such a big positive listing catalyst right in front of us on Binance, the price still hasn’t been able to hold it—while at the same time, more potential circulating supply is coming later.
In this kind of situation, I’m not going to chase longs.
After the spot market truly opens at 19:00, if it still can’t push up, I’ll continue to hold the short side.
$HYPE
