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Multicoin Capital Moves $5.6M HYPE Tokens to Coinbase After Unstaking

Guavy AI Editorial Team
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A wallet associated with Multicoin Capital has moved $5.6 million worth of HYPE tokens to Coinbase, following an unstaking event from Hyperliquid.

The address in question had previously received 1.29 million HYPE tokens, valued at around $71.1 million, after unstaking from the platform.

A seven-day waiting period is required for staked balances to be converted into spot tokens and transferred on Hyperliquid.

Multicoin Capital is a well-known venture capital firm focused on cryptocurrency and blockchain projects.

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