Multicoin Capital Allegedly Sells Additional HYPE Holdings Amid Price Fluctuations
Crypto investment firm Multicoin Capital has allegedly sold an additional 10% of its HYPE holdings, according to blockchain analysis platform Arkham. The report states that Multicoin's largest holding is currently valued at approximately $90.5 million, with a peak of 4 million tokens held in February and March this year.
However, Tushar Jain, co-founder and managing partner of Multicoin Capital, has disputed the claim, stating on Twitter that Arkham's analysis is 'fundamentally flawed' and that they should be 'embarrassed to publish it.'
The report also notes that HYPE tokens were sent from multiple addresses associated with Multicoin to Coinbase Prime, but it cannot be confirmed whether these transactions represent actual sales. Arkham states that the value of Multicoin's HYPE holdings is currently around 25% of its peak.