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Crypto

Hyperliquid Tokens Flow into Coinbase Prime

Guavy AI Editorial Team
Instruments
HYPE
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Financial news has emerged that Multicoin Capital transferred 261,555 Hyperliquid (HYPE) tokens worth around $21.7 million to Coinbase Prime in three batches.

This move has raised concerns about increased sell-side liquidity from institutional investors, but it's essential to note that deposits to Coinbase Prime don't necessarily confirm actual market sales as the platform offers OTC and custody services.

HYPE's price recently surged to approximately $83 but faces resistance near $84-$87, with technical indicators suggesting cooling momentum without a clear breakdown yet.

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