Multicoin Capital redeemed 1.97 million HYPE, with a portion transferred to Coinbase Prime

Odaily Odaily reports that according to Ember monitoring, one week ago, after Multicoin Capital transferred 395,000 HYPE (approximately $37 million) to Coinbase, it continued to apply for more HYPE to be redeemed from staking.

Early this morning, 1.97 million HYPE (approximately $108 million) successfully exited staking after a 7-day pending period, of which 86,000 HYPE (approximately $4.78 million) was transferred to Coinbase Prime 3 hours ago.

Over the past week, the price of HYPE has dropped about 10%, falling from $61 to $55.