Multicoin Capital Transfers 261,000 HYPE to Coinbase Prime

Multicoin Capital deposited 261,000 HYPE, valued at approximately $21.7 million, into Coinbase Prime over the past nine hours. Since late July, the firm has transferred a total of 1.551 million HYPE to the exchange from its redeemed staking holdings, amounting to roughly $114 million at an average price of $73 per token.