Multicoin Capital Shifts Massive HYPE Holdings to Coinbase Prime

Multicoin Capital has made significant moves in the HYPE token market. The fund unstaked 1.97 million HYPE tokens valued at $108 million after a seven-day pending period and routed 86,000 HYPE worth $4.78 million into Coinbase Prime within hours.

This is not the first time Multicoin has moved its HYPE holdings to Coinbase; one week earlier, it shifted 395,000 HYPE worth $37 million to Coinbase while requesting additional unstakes from Hyperliquid.

The tokens were acquired five months ago at roughly $30 through Galaxy Digital OTC, resulting in near-double returns at current levels.