Multicoin Capital Suspected of Selling 1.725 Million HYPE Since July 28

On-chain analysts monitoring the activity said Multicoin Capital has likely sold 1.725 million HYPE since July 28, with the tokens valued at about $133 million and estimated profit of $77.15 million. According to ChainCatcher, the firm’s most recent deposit occurred 9 hours ago, with a cost basis of about $32.32 and an average deposit price of $77.03. It still holds HYPE worth about $60.29 million on-chain.