Multicoin Capital deposited 261,555 HYPE, worth approximately $21.7 million, to Coinbase Prime in three separate transactions over the past 12 hours. This operation comes as the token trades at $82.93, near its recent highs reached in the $86-$87 range after a spectacular rally from roughly $57 in late August. The transfer does not constitute proof of an immediate sale as Coinbase Prime may serve OTC transactions, settlements, and institutional custody purposes. Key technical levels to watch stand around $80, with secondary support in the $76-$73 zone if this threshold breaks.
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