Multicoin Capital Unstakes 1.97M HYPE Worth $108M Amid 10% Weekly Drop

Multicoin Capital exits staking with 1.97M HYPE valued at $108M, transferring 86K to Coinbase Prime as the asset declines 10% over the past week.

Woofun AI data shows that Multicoin Capital completed the unstaking of 1.97 million HYPE tokens, valued at approximately $10.8 million, following a seven-day unbonding period. This action follows a prior transfer of 395,000 HYPE to Coinbase one week ago. Recent on-chain activity indicates that 86,000 HYPE, worth $4.78 million, was moved to Coinbase Prime three hours ago. During this period of increased selling pressure, the price of HYPE has decreased by 10%.