Multicoin Clarifies HYPE Unstaking Is Wallet Rotation, Not Selling Intent
2026-07-23 08:53

Woofun AI reports that Tushar Jain, managing partner at Multicoin Capital, clarified that recent HYPE unstaking was not intended for asset liquidation. He explained that institutional funds must regularly rotate wallets due to continuous on-chain tracking. This operational necessity also underpins the firm's sustained positive outlook on ZAMA and ZEC. Previously, addresses linked to Multicoin Capital were observed selling 607,000 HYPE, worth approximately $37 million, and transferring 395,000 HYPE to Coinbase and applying to redeem 211,000 staked units from Hyperliquid, sparking speculation of a $37 million sell-off.

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Tags:
HYPE
ZEC
Tushar Jain
ZAMA
Hyperliquid
Multicoin Capital
Coinbase
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