On July 29, in response to news that a wallet associated with Selini Capital transferred 495,000 HYPE to OKX, Selini Capital founder Jordi Alexander denied the rumor, stating that Selini Capital would not be used to "dump prices." He explained that Selini Capital uses HYPE tokens in many aspects of the ecosystem—such as staking transaction fees on wallets, market making and arbitrage on HyperEVM, and HYPE bidding. Jordi Alexander also said he does not believe that Paradigm and Multicoin are selling their HYPE holdings. In his personal opinion, HYPE's current valuation is reasonable based on fundamentals. The main upside potential lies in whether those impressive traditional finance trading volumes can translate into more substantial fee revenue, but many unresolved questions remain along this path.
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Selini Capital Founder Denies Selling HYPE, Also Doesn't Believe Paradigm and Multicoin Are Selling Their HYPE Holdings
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