Multicoin Unloads Another 10% of HYPE Holdings Amid Ongoing Price Surge

Multicoin Capital has sold another 10% of its HYPE holdings, according to blockchain analytics platform Arkham Intelligence. This sale brings Multicoin's total holding down from a peak of 4 million tokens to just over 25% of that amount.

The investment firm accumulated the tokens between February and March this year and has held the position for more than six months. The current value of HYPE in Multicoin's portfolio is approximately $90.5 million.

A notable transfer of 261,555 HYPE to Coinbase Prime earlier this week drew attention due to the token's recent price surge near its highs.