Multicoin Capital Unstakes 1.97 Million HYPE, Worth Approximately $108 Million

TechFlow News, July 29, according to monitoring by on-chain analyst Yu Jin, after Multicoin Capital transferred 395,000 HYPE to Coinbase a week ago, it continued to apply to redeem more HYPE from staking. Early this morning, 1.97 million HYPE successfully unstaked after a 7-day waiting period, worth approximately $108 million at the price at that time.

Of this amount, 86,000 HYPE were transferred to Coinbase Prime about 3 hours ago, valued at approximately $4.78 million. Additionally, HYPE has cumulatively fallen about 10% over the past week, with the price dropping from $61 to $55.