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Crypto

$26.73M Multicoin Capital Hype Deposit Fuels Institutional Tensions

Guavy AI Editorial Team
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Multicoin Capital made a significant move in the cryptocurrency market by depositing $26.73 million worth of HYPE into Coinbase Prime, a platform for institutional investors.

The transaction, which occurred approximately 20 minutes ago, brings the total amount of HYPE held on Coinbase Prime to a substantial sum.

This development aligns with ongoing trends in institutional positioning and cryptocurrency flows observed over the past year.

Traders are closely monitoring how large transfers like this affect liquidity on major exchanges. The current price of HYPE is $80.44, situated within its Bollinger Bands, with an upper resistance level at $81.46.

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