Multicoin Capital deposited 92.38K HYPE tokens (~$8.34M) to Coinbase Prime, signaling a likely sell.

Macro & Markets · 2026-09-30

A Multicoin Capital wallet transferred 92.38K HYPE tokens valued at approximately $8.34M to Coinbase Prime, marking another deposit to the exchange. The move aligns with a pattern of selling activity and suggests an imminent disposition of the tokens.

Transfers to custodial exchanges like Coinbase Prime typically precede sales, as they facilitate institutional liquidation. This marks another instance of Multicoin reducing its HYPE holdings through on-chain movement.

The deposit's timing and size remain relevant to broader market sentiment around the token, though the exact execution timeline for the sale is not yet determined.

Previously on Telem

Hyperliquid Labs to unstake and sell $320M HYPE tokens 2026-09-30
Arrington Capital transfers 40K HYPE to FalconX exchange 2026-09-30
Wintermute opens $126.25M in shorts across Hyperliquid 2026-09-28
Whale deposits $16.1M HYPE to exchanges, signaling selling pressure 2026-09-28
Bitget confirms $387.5M theft, DTCC tokenization service launching Q4 2026-09-28