Multicoin Capital, Bitwise deposit $8.7M more in HYPE to Coinbase

Multicoin Capital and Bitwise deposited additional HYPE holdings to Coinbase, according to Lookonchain. Lookonchain said Multicoin Capital transferred 137,100 HYPE worth $7.51 million to Coinbase Prime over the past 10 hours, while Bitwise deposited 22,463 HYPE worth $1.23 million to Coinbase nine hours ago. Exchange deposits are typically interpreted as a sign of potential selling.