Selini Capital founder denies claims of large-scale HYPE sales

Selini Capital founder Jordi Alexander denied recent claims that the crypto venture capital firm was conducting large-scale sales of HYPE. In a post on X, Alexander said Selini Capital’s HYPE holdings are being used across the ecosystem for fee staking, liquidity provision, HyperEVM arbitrage and HYPE bidding, rather than being held for simple sale. Alexander added HYPE is currently trading at a fair value based on its fundamentals, while further upside will depend on whether higher TradFi trading volumes can translate into actual protocol fee growth. Earlier, Lookonchain said an address linked to Selini Capital deposited 495,000 HYPE worth $26.8 million to OKX five hours earlier.