Multicoin Capital: Offloads $133M HYPE Since July

Multicoin Capital has offloaded 1.725 million $HYPE tokens worth $133 million since July 28, locking in roughly $77.15 million in gains while still holding $60.29 million on-chain.

The entity built its position at an average $32.32 cost basis earlier this year before distributing into Coinbase and other venues, with the latest deposit occurring just nine hours ago at an average fill of $77.03.

Price action on the 4h chart shows HYPE trading at $85.6 inside the Bollinger Bands with upper resistance at $88.91 and lower support at $82.67; the neutral RSI at 52.3 combined with the MACD death cross suggests a healthy retracement toward the EMA50 support at $84.42 before any continuation higher, a setup that aligns with ongoing distribution pressure from large holders.