According to on-chain analyst Yujin, a wallet suspected to be associated with Multicoin Capital is selling 607,000 HYPE tokens, valued at approximately $37 million at current prices. Approximately four hours ago, the address transferred 395,000 HYPE to Coinbase and initiated a redemption request for 211,000 HYPE previously staked on Hyperliquid.
Suspected Multicoin Capital address sells 607,000 HYPE tokens worth $37M
TechFlowShare
Summary
On-chain data reveals a suspected Multicoin Capital address sold 607,000 HYPE tokens, worth approximately $37 million. The address transferred 395,000 HYPE to Coinbase and redeemed 211,000 staked HYPE on Hyperliquid. Crypto news platforms such as TechFlow tracked the activity, with the transaction occurring roughly four hours ago. This move contributes to recent volatility in the token project space.
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