HYPE sell-off hits again, Multicoin Capital unpledges 1.97 million HYPE units, or approximately $108 million

Comparative news, according to EmberCN monitoring, after Multicoin Capital transferred 395,000 HYPE ($37 million) to Coinbase a week ago, it continued to make more HYPE pledges and redemptions.

Early this morning, 1.97 million HYPE units ($108 million) were successfully withdrawn from the pledge after a 7-day unpledge period. Of the successfully redeemed HYPE, 86,000 ($4.78 million) were transferred to Coinbase Prime 3 hours ago. Notably, HYPE has dropped 10% over the past week.