Multicoin Capital Suspected of Selling $112 Million in HYPE

On-chain analyst Ai Yi reported that Multicoin Capital has been offloading HYPE tokens since July 28, with total sales reaching approximately $112 million and an estimated profit of $64.08 million, representing a return of over 134%. The firm had previously accumulated 4.95 million HYPE from Galaxy Digital between January and July at an average price of $32.32. The most recent transaction involved depositing 150,000 HYPE, worth about $12.78 million, into Coinbase three hours ago.