Multicoin Capital Transfers Large HYPE Stake to Coinbase

Crypto investment firm Multicoin Capital has been actively transferring Hyperliquid (HYPE) to Coinbase, with its latest deposit of 130,331 HYPE worth $12.15 million at the time.

This recent transfer brings the total amount of HYPE deposited by Multicoin Capital on Coinbase over two months to approximately 4.23 million tokens, valued at around $285 million since late July.

The deposits are typically seen as a sell signal, but it has not been confirmed whether Multicoin Capital has sold its HYPE holdings.