Multicoin Capital-linked wallet sends $4.4M in HYPE to Coinbase Prime

A wallet believed to be linked to crypto investment firm Multicoin Capital deposited 62,700 HYPE worth $4.37 million into Coinbase Prime, according to Onchain Lens. Exchange deposits are typically interpreted as intended for sale. The same entity had also deposited 172,710 HYPE into Coinbase yesterday.