Multicoin Capital, a cryptocurrency investment firm managing approximately $2.7 billion, has identified the HYPE token as its largest holding within its hedge fund, according to Bloomberg. HYPE, the native token of the Hyperliquid decentralized derivatives protocol, is currently trading around $79, with a market capitalization between $17.5 billion and $20.1 billion, roughly 17% to 20% below its all-time high of $98. Multicoin Capital acquired these tokens on public markets, although the exact size of the holding has not been disclosed. The firm’s decision to focus on HYPE rather than artificial intelligence reflects its confidence in the token’s growth potential and its continued commitment to digital assets.
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