Odaily Planet Daily reports, according to on-chain analyst Yujin, a suspected Multicoin Capital-related address (0xaB3...297) is selling 607,000 HYPE tokens, valued at $37 million. Four hours ago, it transferred 395,000 HYPE tokens to Coinbase and initiated a redemption request for 211,000 HYPE tokens staked on Hyperliquid. These HYPE tokens were originally purchased five months ago via Galaxy Digital’s OTC desk at $30 each, with 210,000 HYPE deposited into staking and 395,000 HYPE retained in the wallet. At the current HYPE price of $61, the profit amounts to $18.8 million.
Multicoin Capital is suspected of selling 607,000 HYPE tokens, generating a profit of $18.8 million.
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Summary
On-chain news shows that Multicoin Capital’s suspected address (0xaB3...297) sold 607,000 HYPE tokens for $37 million. Four hours earlier, the address transferred 395,000 HYPE to Coinbase and redeemed 211,000 staked on Hyperliquid. The tokens were originally purchased via Galaxy Digital’s OTC desk at $30 five months ago, with 210,000 staked and 395,000 held in the wallet. At $61, the trade generated an $18.8 million profit.
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