HYPE falls below $60 as Paradigm and Multicoin unstake $291 million

Two of the largest venture capitalists for cryptocurrencies have unstaked Hyperliquid’s HYPE token, worth around $291 million, within a couple of days of each other, causing the price for HYPE to drop below $60 as traders look at a new wave of selling. According to on-chain tracker Onchain Lens, the bigger shift happened when Paradigm...