Multicoin Capital made estimated $64.1M profit on large HYPE sales

Crypto investment firm Multicoin Capital made an estimated $64.08 million in profit from recent large-scale sales of Hyperliquid’s HYPE, according to an analysis by on-chain analyst ai_9684xtpa. The analyst said Multicoin Capital sold a total of $112 million worth of HYPE starting July 28, generating an estimated return on investment of 134%. Multicoin Capital is estimated to have accumulated 4.95 million HYPE at an average purchase price of $32.32 from January through July this year through Galaxy Digital, then began taking profits by depositing its holdings to exchanges, mainly Coinbase, in split transactions as HYPE rose in price. According to CoinMarketCap, HYPE was trading at $86.92, up 6.62%, at the time of writing.