Lookonchain
Multicoin Capital deposited 130,331 HYPE, worth $12.15 million, into Coinbase Prime after a one-week break. Since July 28, the firm has deposited 4.23 million HYPE valued at $285 million.
Why it matters
Repeated transfers to a prime brokerage can put a large token position closer to a potential sale. The deposits alone do not confirm that Multicoin has sold or plans to sell its HYPE.
Market impact
The latest transfer adds to a substantial cumulative flow and may keep attention on potential selling pressure in HYPE. Whether that pressure materializes depends on what happens to the deposited tokens next.
Frequently asked questions
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How much HYPE did Multicoin Capital deposit in its latest transfer?
Multicoin Capital deposited 130,331 HYPE, valued at $12.15 million, into Coinbase Prime.
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How much HYPE has Multicoin deposited since July 28?
The firm has deposited 4.23 million HYPE, valued at $285 million, into Coinbase Prime since July 28.
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Does a Coinbase Prime deposit confirm Multicoin sold HYPE?
No. The deposit does not confirm a sale or establish that Multicoin plans to sell.
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Why are Multicoin's HYPE deposits being watched?
Repeated transfers to a prime brokerage can put a large token position closer to a potential sale, raising concerns about possible selling pressure.
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What could determine whether the deposits affect HYPE market supply?
What happens to the deposited tokens next will determine whether the transfers translate into market supply.
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