Crypto
Hype Token Whale Sells $2.03M to KuCoin, Prices Slump
A significant movement has been observed in the market for HYPE tokens. A large investor, known as a 'whale', deposited $2.03 million worth of tokens into KuCoin six hours ago.
This transaction was followed by another transfer from the same wallet, where 290,750 USDC was routed to Kraken shortly before.
HYPE's price currently sits at $54.49, below its EMA50 and EMA200 moving averages of $55.0 and $58.65 respectively. The MACD death cross is also in place, indicating a bearish trend. As the token tests the upper Bollinger Band resistance at $56.25, technical indicators suggest that a pullback to lower band support at $53.44 may be imminent.