HYPE Sell Pressure Returns as Multicoin Capital Unstakes 1.97 Million HYPE, Equivalent to $108 Million

July 29th, according to EmberCN monitoring, a week ago, Multicoin Capital transferred 395,000 HYPE tokens ($37 million) to Coinbase, and has since continued to carry out more HYPE staking redemptions.

Early this morning, 1.97 million HYPE tokens ($108 million) successfully unstaked after a 7-day staking period and exited the staking pool. Of the successfully redeemed HYPE, 86,000 tokens ($4.78 million) were transferred to Coinbase Prime 3 hours ago. It is worth noting that HYPE has dropped by 10% in the past week.