Multicoin Capital: Deposits $23.78M HYPE to Coinbase Prime

Multicoin Capital deposited 395,570 $HYPE worth $23.78M into Coinbase Prime while unstaking another 211,486 tokens valued at $12.94M, realizing roughly $18.5M profit on the original 606,091 $HYPE position purchased near $30 five months earlier.

Price action on the 4h chart shows $HYPE at $58.93 inside the Bollinger Bands with upper resistance at $63.7 and lower support at $58.72, while EMA50 at $62.25 and EMA200 at $64.43 cap upside and the MACD death cross at -0.59 keeps the structure bearish; RSI at 36.49 leaves room for further downside before any bounce, so the fund's timing aligns with resistance tests that often precede retracements toward the 50-EMA.