Multicoin Capital transfers $14.54 million HYPE to Coinbase, or ready to sell

According to Onchain Lens monitoring, Multicoin Capital's associated wallet transferred 197,560 HYPES worth about $14.54 million to Coinbase in the past 9 hours.

The transfer address is: 0xca292baab13a6b97fc83bb142e689440fd0812b8

Since funds flow to centralized trading platforms, on-chain analysts believe the operation may be used for sale. Previously, Multicoin Capital also transferred HYPE to Coinbase several times, drawing market attention to institutional position reduction.