Bitwise Sells Another $7.05M in HYPE as Token Drops 8%

Bitwise has sold another 117,917 Hyperliquid (HYPE) tokens worth approximately $7.05 million, marking the latest disposal of its holdings.

The sale came as HYPE extended recent losses, with the token falling 8% over the past 24 hours to $55.27 at the time of writing. The latest transaction adds to selling pressure on the asset, although the available information does not establish a direct causal link between Bitwise’s sale and the token’s price decline.

After the latest sale, Bitwise still holds 538.36K HYPE tokens, with the remaining position valued at approximately $29.72 million based on current market prices.

Bitwise has not disclosed the reason for the latest sale, and no additional details on its plans for the remaining HYPE holdings were immediately available.

Source: Lookonchain