Multicoin Capital Transfers 130,331 HYPE to Coinbase, Lifting Two-Month Deposits to 4.23 Million
JOON HYOUNG LEE
Summary
- Crypto investment firm Multicoin Capital made a large transfer of Hyperliquid (HYPE) to U.S. crypto exchange Coinbase.
- According to Lookonchain, Multicoin Capital transferred 130,331 Hyperliquid to Coinbase Prime, and the deposit was worth $12.15 million at the time.
- Since late July, about 4.23 million Hyperliquid ($285 million) deposited by Multicoin Capital to Coinbase over roughly two months would typically be interpreted as a sell signal, though no sale has been confirmed.
Forecast Trend Report by Period
Crypto investment firm Multicoin Capital has made a large transfer of Hyperliquid (HYPE) to U.S. crypto exchange Coinbase.
Lookonchain said on Sept. 24 that Multicoin Capital transferred 130,331 HYPE to Coinbase Prime. The tokens were worth $12.15 million at the time of the deposit.
Since late July, Multicoin Capital has repeatedly moved HYPE to Coinbase Prime. Over roughly two months through Sept. 24, the firm deposited about 4.23 million HYPE into Coinbase, worth about $285 million.
Deposits to exchanges are typically interpreted as a sell signal. It has not been confirmed, however, whether Multicoin Capital has sold its HYPE holdings.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul