Multicoin Capital-Related Wallets Transfer 490,000 HYPE Over Two Days

On July 23, a wallet linked to Multicoin Capital transferred 490,000 HYPE over two days, according to Onchain Lens monitoring. According to BlockBeats On-chain Detection, a suspected Multicoin Capital wallet just moved 93,000 HYPE to multiple new addresses. Two days earlier, the same wallet carried out a similar transfer of 397,500 HYPE, with the funds split across several addresses before ultimately being deposited into a CEX, a centralized exchange. In total, the related wallet has moved 490,000 HYPE over the past two days.