Profit of $18.8 Million: Suspected Multicoin Capital Sells 607,000 HYPE

Odaily Planet Daily News According to on-chain analyst Yu Jin's monitoring, a suspected Multicoin Capital-related address (0xaB3...297) is selling 607,000 HYPE, worth $37 million. Four hours ago, it transferred 395,000 HYPE to Coinbase and applied to redeem 211,000 HYPE staked on Hyperliquid. These HYPE tokens were purchased through Galaxy Digital OTC five months ago at a price of $30. Of these, 210,000 HYPE were deposited for staking, while 395,000 HYPE remained in the wallet. Based on the current HYPE price of $61, the profit is $18.8 million.