Multicoin Capital Transfers Portion of Unstaked HYPE to Coinbase

TechFlow reports that on July 29, according to monitoring by on-chain analyst Onchain Lens, a portion of HYPE previously unstaked by Multicoin Capital has been transferred to Coinbase. Data shows that after completing the unstaking, the institution received 1.29 million HYPE from Hyperliquid, worth approximately $71.1 million at the time; subsequently, 101,340 HYPE were transferred to Coinbase, worth approximately $5.6 million.

Additionally, it was noted that Hyperliquid staked assets require a 7-day waiting period to transfer from staked balance back to spot balance.