Paradigm Unstakes $94 Million Worth of Hyperliquid's HYPE
JOON HYOUNG LEE
Summary
- Crypto venture capital (VC) firm Paradigm reportedly carried out a large-scale unstaking of Hyperliquid (HYPE).
- Paradigm requested the unstaking of about 1 million Hyperliquid tokens through four addresses, worth about $94 million.
- Large unstaking requests are typically interpreted as a sell signal, but it has not yet been confirmed whether Paradigm actually sold the tokens.
Forecast Trend Report by Period
Crypto venture capital firm Paradigm has unstaked a large amount of Hyperliquid's HYPE token.
BlockBeats reported on Sept. 24 that Paradigm submitted unstaking requests in succession through four addresses that day.
The firm applied to unstake about 1 million HYPE tokens, worth about $94 million at the time of the requests.
Large unstaking moves are typically interpreted as a sell signal. It has not been confirmed, however, whether Paradigm sold the unstaked tokens.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul