A suspected Multicoin Capital address sold 607,000 HYPE, profiting 18.8 million USD.

According to on-chain analyst Yujin’s monitoring, an address suspected to be related to Multicoin Capital (0xaB3…297) is currently selling 607,000 HYPE tokens, valued at 37 million US dollars. Four hours ago, this address transferred 395,000 HYPE tokens to an exchange and requested the redemption of 211,000 HYPE tokens staked on Hyperliquid. These HYPE tokens were purchased five months ago via Galaxy Digital OTC at a price of 30 US dollars apiece. At the current HYPE price of 61 US dollars, this address has made a profit of 18.8 million US dollars.