Multicoin Capital transferred $11.92M in HYPE tokens to Coinbase, totaling $33.64M moved since yesterday.
Macro & Markets ·
Multicoin Capital moved 143.99K HYPE tokens valued at approximately $11.92 million to Coinbase, continuing a pattern of transfers that began the previous day. The latest transaction follows an earlier movement of roughly $21.72 million in the same token to the exchange.
Over the span of approximately one day, Multicoin has transferred a combined 405.54K HYPE tokens—valued at around $33.64 million—to Coinbase across multiple transactions. The transfers were tracked using the blockchain address 0xaB319403E72C5e97c65ef70031bab8827efc5297.
The underlying rationale for the transfers remains unclear. Movements of this scale could reflect liquidation, rebalancing, or preparation for exchange-listed activity, but no statement from Multicoin Capital has been published to confirm the intention.