BlockBeats News, July 29th, Selini Capital founder Jordi Alexander responded to an incident previously monitored by LookIntoChain, where an address related to Selini Capital deposited 495,473 HYPE tokens (approximately $26.8 million) into OKX. He clarified that this transfer was not intended to manipulate the market. Selini Capital uses the HYPE token in various aspects of its ecosystem, including transaction fee staking, wallets, liquidity provision and arbitrage on the HyperEVM, and HYPE auctions.

Furthermore, he does not believe that Paradigm and Multicoin's positions are being liquidated. Alexander mentioned that concerns about the (3,3) mechanism being broken might trigger memories of past events. Native users seem to have fully allocated their positions and are just following the market trend. He personally believes that the current valuation of HYPE is relatively reasonable. The main upside potential lies in whether traditional finance trading volume can translate into substantial fee income, but this process still faces many unresolved issues.