Bitwise Unloads Another Large Stake in HYPE for Over $700 Million

Bitwise has sold off another large chunk of its HYPE holdings, according to recent data. The company, which had previously held a significant amount of HYPE (HYPE is not specified in USD), has now sold approximately 11.79 thousand units for around $705 million.

This sale marks the second major disposal of HYPE by Bitwise this year, with the previous sell-off occurring in February when the company offloaded a staggering 44.94 thousand units for nearly $1.5 billion.

The latest development has sent shockwaves through the crypto community, with many questioning the motivations behind Bitwise's continued liquidation of its HYPE holdings.