Jordi Alexander, founder of cryptocurrency venture capital (VC) Selini Capital, denied recent rumors of a mass sell-off of HYPE by Selini Capital. He stated via X, "The HYPE held by Selini Capital is being utilized across the entire ecosystem for purposes such as transaction fee staking, liquidity provision (LP), HyperEVM arbitrage, and HYPE bidding, and is not an asset held purely for selling. Personally, I believe HYPE is currently trading at a fair value based on its fundamentals, and its potential for further appreciation in the future depends on whether increased traditional finance (TradFi) trading volume can genuinely lead to an expansion of protocol fees." Previously, Lookonchain reported that an address associated with Selini Capital deposited 495,000 HYPE ($26.8 million) to OKX five hours ago.
