HYPE token's price briefly fell 8% from its local highs due to a significant withdrawal queue. According to reporting from CoinTelegraph, Multicoin Capital, Selini Capital, and Galaxy Digital have queued nearly $150 million of the token for withdrawals.
This development has led to a noticeable decline in HYPE's price, sparking interest in the token's current market situation. The withdrawal queue by major crypto funds indicates a substantial movement of HYPE tokens, which may be worth monitoring for further market insights.