Suspected Multicoin Capital-associated addresses transfer 93,000 HYPE to multiple new addresses

TechFlow reports, on July 23, according to Onchain Lens monitoring, a wallet suspected to be associated with Multicoin Capital transferred a cumulative total of 490,000 HYPE in the past two days, with a total value of approximately $29.48 million.

Among these, the latest transaction involved transferring 93,000 HYPE to two new addresses, valued at approximately $5.48 million. In the previous two days, the same wallet also transferred out 397,500 HYPE, valued at approximately $24 million. The relevant funds were dispersed through multiple addresses before finally being deposited into Coinbase.