Multicoin Capital Moves Another $5.23 Million in HYPE to Coinbase

Onchain monitoring account Onchain Lens reported that investment firm Multicoin Capital has sent another 63,200 HYPE to Coinbase in recent days, a transfer valued at about $5.23 million. The latest movement adds to a larger stream of deposits linked to the firm. Since an update published yesterday, addresses associated with Multicoin Capital have transferred a combined 261,600 HYPE to Coinbase, worth roughly $21.72 million. The reported transactions were highlighted by Techub News, citing Onchain Lens data. Hyperliquid, the network behind the HYPE token, is a decentralized perpetual futures trading platform. Its native token is used for network governance and staking incentives. The transfer figures in the report point to continued exchange inflows from wallets tied to the investment firm, though no reason for the deposits was disclosed in the source. Coinbase was the named destination in both the latest transfer and the cumulative tally since yesterday’s update.