Institutional Investors Flee Hype Token Amid Price Plunge

Multicoin Capital and Bitwise have transferred millions of dollars' worth of HYPE tokens to Coinbase as the cryptocurrency's price plummets.

A total of $8.7 million in HYPE was moved by the two institutional investors, with Multicoin transferring 137,100 HYPE valued at approximately $7.51 million and Bitwise depositing 22,463 HYPE worth about $1.23 million into Coinbase Prime over the past day.

The transfers coincided with a continued decline in HYPE's market price, which was trading at $54.03 at the time of writing, down 29.7% from its all-time high of $76.87 reached on June 16, 2026.