Suspected Multicoin Capital Wallet Moves $11.2M in HYPE to Galaxy Digital in Possible OTC Sale

A cryptocurrency wallet believed to be linked to Multicoin Capital, a crypto-focused investment firm, appears to have sold 167,000 HYPE tokens valued at approximately $11.2 million.

The tokens were initially moved to an intermediary wallet before being transferred to Galaxy Digital's over-the-counter (OTC) trading desk, indicating the sale was likely executed through a private transaction. The transfer was recorded roughly 38 minutes before it was reported.

Source: Onchain Lens