July 22, 2026·Bearish·onchain activity

Multicoin Capital Deposits $24M HYPE to Coinbase Prime

Multicoin Capital, an early backer of HYPE, deposited nearly $24 million worth of HYPE to Coinbase Prime and requested to unstake an additional $13 million. This move has put selling pressure on HYPE, as the market interprets it as profit-taking by a major investor.

Detected & updated continuously · Source: Nebula

Mentioned

Hyperliquid (hype)

@multicoin

Sources

@wiseadvicesumit

🚨 $HYPE is under pressure today as one of its biggest early backers appears to be taking profits. Multicoin Capital has deposited nearly $24 million worth of HYPE to Coinbase Prime while requesting to unstake another $13 million. The firm accumulated around $30 just five https://t.co/pmdmw2RdJq