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Crypto

HYPE Soars 3.5% After OTC Sale, Consolidation Phase Ahead

Guavy AI Editorial Team
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HYPE
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Hyperliquid (HYPE) experienced a significant price surge after an over-the-counter (OTC) sale, rising by 3.48% to $89.55 in the last 24 hours.

The token's price hike can be attributed to the sale of 3.75 million HYPE tokens to one institutional buyer, which eased short-term selling worries and helped the token outperform the wider crypto market.

However, despite the recent price increase, the token is yet to gather enough momentum to confirm a stronger breakout. According to technical analysis, HYPE may remain in a consolidation phase before its next move.

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