Svmuu News: This morning, two addresses believed to be associated with Paradigm unstaked 2.92 million HYPE (approximately $171 million).
Eric Conner, a former core developer at Ethereum and angel investor, commented on the matter: “Everyone assumed this was a sell-off, but it’s more likely that this is ETF seeding.”Custodians need tokens with liquidity, and staked HYPE cannot be used. Back in April, they had already unstaked $88 million worth of tokens, and on the very same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage.”