Multicoin Capital Deposits $8.34M in HYPE to Coinbase Prime

A venture firm moving a token position into a prime brokerage venue is the kind of on-chain signal that gets read as intent, even though a deposit alone doesn't confirm a sale. What matters is that HYPE's holder base now includes funds sitting on large unrealized positions, which changes the character of supply from early believers to return-sensitive capital. Whether the tokens actually hit the market, or get redeployed into custody, lending or OTC settlement, is the open question worth tracking.