Cumberland Sells 170K Hype Tokens, Triggers Sell Pressure

Hype crypto has seen its momentum cool down after reaching a new all-time high on Thursday. Despite this, the sell pressure remained at bay, possibly due to holders anticipating more upside.

However, it appears that some institutional investors may be preparing to sell. Cumberland, one of the biggest Hype crypto institutional holders, has reportedly transferred 170,000 tokens to Coinbase and Bybit. This represents about 4% of the total institutional assets under management (AUM).

The move comes as spot Hyperliquid ETFs saw their largest weekly inflows yet this past week, acquiring $56.8 million worth of Hype crypto.