Multicoin Capital Unloads 261K HYPE Tokens to Coinbase Prime
Multicoin Capital has continued its liquidation of HYPE tokens by routing another 261,000 units to Coinbase Prime over the past nine hours. This move follows a previous transfer of 810,000 tokens and brings the total amount of HYPE shifted by the firm to 1,551,000.
The original investment in HYPE via Galaxy Digital OTC near $33 has generated over $150 million in total gains for Multicoin Capital, with an average price of $73 per token. This significant profit margin highlights the success of the firm's investment strategy.
As of now, HYPE trades at $82.26 within its Bollinger Bands, with a resistance level at $85.16 and support at $80.66. The EMA50 at $80.97 serves as a concrete support beneath a neutral RSI of 48.51 and a MACD death cross at 0.33.