Paradigm unlocks $171 million worth of HYPE staking, which may be transferred to institutional custody

According to Odaily, early this morning, two addresses suspected to be associated with Paradigm unstaked 2.92 million HYPE tokens (approximately $171 million).

Former Ethereum core developer and angel investor Eric Conner commented: "Everyone thinks this is about selling, but it is more likely a case of ETF seeding. Custodians need to have liquid tokens, and HYPE that is staked cannot be used. Back in April, they also unstaked $88 million worth of tokens, and on that same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage."