TREE NEWS reports: Multicoin Capital deposited 130,331 HYPE tokens worth $12.15 million into Coinbase Prime, resuming transfers after a one-week pause. Since July 28, the firm has moved a cumulative 4.23 million HYPE, valued at $285 million, into the exchange’s prime brokerage platform.
Multicoin Capital Deposits 130,331 HYPE Worth $12.15M to Coinbase Prime
AI take
Multicoin's resumed deposits matter less for the single transfer than for the pattern: a venture-scale holder steadily routing a large HYPE position into a prime brokerage venue, a flow more consistent with custody, lending or over-the-counter settlement than with spot selling. The cumulative scale makes this one of the more visible institutional dispositions of the token, so it colours how HYPE's float and liquidity are read. Whether the cadence continues, and whether similar wallets follow, is the open question.
Generated by AI for reference only.
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