Onchain Lens said Multicoin Capital received 1.29 million HYPE, worth about $71.1 million, from Hyperliquid after unstaking the tokens. It then transferred 101,300 HYPE, valued at roughly $5.6 million, to Coinbase. The update also noted that on Hyperliquid, moving tokens from staked balance back to spot balance requires a seven-day wait. The transaction sequence points to a completed unstaking process followed by an exchange transfer, based on the on-chain activity cited by the source.
According to Onchain Lens, Multicoin Capital received 1.29 million HYPE, worth about $71.1 million, from Hyperliquid after unstaking the tokens.
It later transferred 101,300 HYPE, worth about $5.6 million, to Coinbase.
On Hyperliquid, tokens moved from staked balance back to spot balance are subject to a seven-day waiting period.
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