HYPE falls to $78.99 after largest unlock of 14.18 million tokens
- —HYPE trades at $78.99, down 6.13% over the week and 0.77% in 24 hours
- —14,175,778 HYPE unlocked on August 29, 46.6% to insiders and early investors
- —HYPE is the weakest major asset of the week: ZEC +1.13%, XRP +0.41%
- —HYPE valuation is about 39 annual revenues versus 24 in early August
Why it matters: The unlock with a high insider share increased pressure on the price; losing $74 would call the entire August rally into question, with the October AQAv2 payout as the next catalyst.
Source: BlockchainReporter