- Large $HYPE unstaking event anticipated, potentially creating buying opportunity.
- The project’s assistance fund holds substantial tokens indicating strong buying pressure.
- Grayscale Research adds $HYPE to its list of top 20 crypto assets.
Hype token is gaining significant traction due to its recent price surge and an anticipated large-scale token unstaking event. As highlighted by a market observer, the Layer 1 blockchain and decentralized exchange is preparing to release roughly 1.5 million of the namesake tokens from staking within the next few hours.
This substantial unstaking event, located in three wallets holding over two-thirds of the total queued amount, has raised concerns about potential market fluctuations.
In comparison to past instances of significant unstaking, the firm anticipates a possible short-term price pullback. Market experts advise traders to prepare their bids, suggesting this could represent a valuable opportunity to accumulate $HYPE before its anticipated future appreciation.
The other day, the DEX further fueled bullish sentiment by revealing the substantial holdings of its assistance fund. The fund currently holds nearly 15 million $HYPE tokens, representing about 5% of the circulating supply.
$HYPE to $100? $730M Buying Pressure and Bullish Predictions
Since November 29th, the fund has reportedly purchased over $150 million worth of the namesake tokens, averaging daily purchases exceeding $2 million. Annualizing this buying pressure suggests a potential influx of $730 million into the market, equivalent to almost 10% of the current circulating supply.
The DEX also maintained consistent growth as evidenced by its ranking among the top three chains for daily revenue generation. They project daily fee revenue to surpass $3 million soon, expressing strong confidence in the token’s potential to exceed $100 within the next 12 months. They acknowledge the unique nature of $HYPE’s tokenomics, suggesting that its full implications will become clearer over time.
Adding to the positive momentum, Grayscale Research’s Q1 2025 list of top 20 crypto assets includes $HYPE, alongside other notable additions. This recognition from a prominent investment firm further validates the decentralized project’s growing prominence within the cryptocurrency market.