HYPE Price Under Pressure as Whale Selling Grows Amid Grayscale's Long-Term Optimism

The price of HYPE has been declining since its peak in June at $76.80 and is currently testing support at $54.37, with the 200-day EMA at $50.23 as a potential downside target.

Whale selling activity has increased, with Selini Capital depositing 495,473 HYPE (worth approximately $26.8 million) to OKX within an hour, signaling institutional-sized holders reducing exposure.

Despite the bearish momentum, Grayscale argues that HYPE trades at a forward multiple of roughly 15-18x and generates real cash flows, making it appear inexpensive compared to fintech companies like Coinbase, Robinhood, and Circle.