Still holding. Didn’t dump my bag.
Saw people saying $HYPE is chilling around 82 with the OTC still hanging and ETFs bleeding, so I went through the numbers again.
Spot ETFs had a net outflow of $9.43M this week. Sounds rough on the surface, but most of it was just 21Shares’ THYP with $12.41M out. Grayscale’s staking ETF actually took in $1.95M the same week. Some selling, some buying.
Bigger picture: total HYPE ETF AUM is about $452M (2.42% of market cap). Cumulative net inflows are $336M. One week’s outflow is basically a rounding error on what’s already sitting in there.
On the $330M OTC, on-chain shows roughly half of it got restaked. No clear signs of the buyer yeeting it straight onto exchanges yet. Team’s been routing these through OTC instead of just market selling.
Drop from 98 to here happened while the whole market was soft. Looked at the data twice. Thesis hasn’t changed, so neither has my position.
Holding.
hype at $82 and i’m still wondering where the buyers are lol
labs otc supply still overhanging, bitwise saw $2.3m walk out of the spot etf yesterday, whales are short and longs are paying funding.
who’s catching this dip?
Hyperliquid
Not my usual style to post half naked photos, but what the hell... 🤣
Also 49, no AI, no photoshop, pure human labor.
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