Multicoin Capital sold another 10% of its HYPE holdings, reducing its stack to ~25% of peak levels while maintaining ~$90.5M in the token.
Ecosystem ·
Multicoin Capital transferred 261,555 HYPE tokens to Coinbase Prime in another reduction of its holdings, cutting its stake by 10% and leaving the firm with approximately 25% of its peak 4 million token position. The transfer, valued at roughly $21.7 million, brings Multicoin's remaining HYPE holdings to approximately $90.5 million despite the ongoing sales.
The token is currently trading near recent highs, creating a mixed backdrop for the ongoing position reductions. Market projections vary widely, with some analysts modeling future valuations ranging from $109 to $689. However, one trader has outlined a potential downside scenario involving a 17.2% price decline with successive targets at $76.77, $72.68, and $68.49.
It remains unclear whether Multicoin plans to continue liquidating its remaining position or has now completed its exit strategy. The divergence between bullish price targets and the trader's bearish thesis leaves the token's near-term direction unresolved.