Multicoin Capital transferred 136.17K HYPE (~$5.28M) to Coinbase Prime, likely for sale, while maintaining a $144.67M position.
DeFi & Yields ·
Multicoin Capital moved tokens to Coinbase Prime in two separate transfers totaling 136.17K HYPE (approximately $5.28M), suggesting an intent to sell. The transfers followed an earlier 62.73K HYPE deposit, with the latest batch comprising 73.44K HYPE. According to on-chain monitoring, Multicoin retains a substantial position of 2.02M HYPE valued at approximately $144.67M.
The transfers underscore ongoing activity among large holders around current HYPE price levels. The timing and routing through an exchange custody platform indicate preparation for liquidation, though the actual execution and market impact remain unconfirmed.
It is unclear whether additional transfers or sales are planned, or what prompted the staggered movement to the exchange.