Multicoin Capital transferred $59.04 million worth of HYPE to Coinbase over the past 30 days, suspected of continuing to reduce its position.

According to on-chain analyst Onchain Lens (@OnchainLens), Multicoin Capital has transferred approximately $59.04 million worth of $HYPE to Coinbase across 8 addresses over the past 30 days. The latest transfer occurred 7 hours ago, amounting to 81,300 HYPE (approximately $6.69 million).