Multicoin Cuts HYPE Holdings Again as Stake Drops to $90.5 Million

Investment firm Multicoin Capital has continued to pare down its stake in HYPE, selling around 10% of its holdings in recent transactions. According to blockchain intelligence platform Arkham, this sale leaves Multicoin with approximately $90.5 million worth of HYPE.

This is the largest on-chain holding for the firm despite ongoing sales. It's a significant reduction from its peak position, which reached around 4 million HYPE in February and March. Since then, Multicoin has sold nearly 75% of that amount, leaving it with slightly more than one-quarter of the original total.

Multicoin's continued investment in Hyperliquid is notable, as evidenced by its recent direct investment in Trasia Labs, an Asia-focused perpetual futures platform built on Hyperliquid. The firm invested $1.75 million in this seed round, making it the sole investor.