Multicoin Capital Transfers $59 Million in HYPE to Coinbase

According to data from on-chain analyst Onchain Lens, Multicoin Capital has transferred approximately $59.04 million worth of HYPE tokens to Coinbase over the past 30 days using eight different addresses. The most recent transaction, involving 81,300 HYPE tokens valued at roughly $6.69 million, occurred seven hours ago, suggesting a potential ongoing sell-off by the firm.