HYPE hits a new all-time high of $82, with Multicoin transferring nearly $20 million to Coinbase Prime

Odaily Planet Daily News: HYPE reached a high of $82 yesterday, rising 38% over the past week, with 24-hour trading volume exceeding $2 billion and a market cap of approximately $17.17 billion. Hyperliquid's 30-day trading volume has surpassed $176 billion, with open interest exceeding $8 billion.

On August 19, US President Donald Trump stated that the Commodity Futures Trading Commission (CFTC) is pushing to bring Hyperliquid to the US market in a compliant and legal manner. On August 20, a wallet associated with venture capital firm Multicoin Capital transferred 308,884 HYPE tokens, worth approximately $19.8 million, to institutional custody and trading platform Coinbase Prime within 7 hours.

During the same period, the wallet also transferred 172,710 and 62,700 HYPE tokens, worth approximately $10.15 million and $4.37 million respectively. Since February 2026, Multicoin Capital has transferred over $100 million worth of HYPE to Coinbase Prime; Hyperliquid has been continuously buying back HYPE through its Assistance Fund using approximately 99% of its perpetual contract and spot market fee revenue. (Bitcoin.com News)