[Selini Capital Founder Responds to HYPE Sell-Off Incident: Not Dumping, HYPE Needed Across Multiple Business Segments] BlockBeats News, July 29 — Selini Capital founder Jordi Alexander responded to a recent incident where Lookonchain detected a Selini Capital-related address depositing 495,473 HYPE tokens (approximately $26.8 million) into OKX. In his statement, Alexander clarified that this transfer was not a case of dumping. He explained that Selini utilizes HYPE tokens across various segments of the ecosystem, including transaction fee staking, wallets, market-making and arbitrage on HyperEVM, HYPE auctions, and more. Additionally, he stated that he does not believe Paradigm and Multicoin's positions are being sold off. Alexander noted that when the market becomes concerned about the breaking of the (3,3) mechanism, it brings back memories of past scenarios. He observed that native users seem to have fully allocated their positions and are merely following market trends. In his personal view, HYPE's current valuation is generally reasonable, with the primary upside potential depending on whether traditional financial trading volumes can be converted into more substantial fee revenue. However, he acknowledged that there are still many unresolved questions in this process. [Original Link]