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Multicoin sends $10.15 million in HYPE to Coinbase Prime, reviving sell-pressure fears
Aug 19, 2026
< 1 min read
by Micah Abiodun
for CryptoPolitan
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AI Overview
On August 18 Onchain Lens reported that institutional backer Multicoin Capital moved 172,710 HYPE (about $10.15 million) to Coinbase Prime, a venue often linked to trader sell-offs. Given HYPE's top-10 token status, the transfer signals potential sell pressure and increased liquidity risk that could weigh on token price and investor sentiment in crypto markets.
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On August 18, Onchain Lens, which tracks blockchain transactions, reported that Multicoin Capital had moved about 172,710 HYPE (about $10.15 million) to Coinbase Prime, a destination that has often been associated with selling by traders. Given that HYPE is currently among the top 10 crypto tokens, the action by one of its major institutional backers...
