HYPE Defies Market Selloff As Whales Withdraw Another $108M From Exchanges
HYPE has held above $60 despite a broad crypto selloff, and exchange flow data suggests strong institutional accumulation. In the past eight hours, three new wallets withdrew 557,406 HYPE worth about $40.2 million from Kraken and immediately staked it, signaling long-term commitment rather than trading. Another new wallet withdrew 180,000 HYPE worth about $13.3 million from Coinbase. Over three days, wallet 0x6436 has accumulated 761,357 HYPE worth about $55.4 million through repeated exchange withdrawals. The pattern is notable because it continues during market stress, when most participants are reducing risk. Along with other large withdrawals, this suggests HYPE is seeing sustained buying and staking from large holders even as the broader market weakens.
