🚨 Multicoin Capital is exiting its HYPE position — selling 𝟲𝟬𝟳,𝟬𝟬𝟬 𝗛𝗬𝗣𝗘 (~$𝟯𝟳𝗠) after doubling its investment. In the last 4 hours, the fund transferred 𝟯𝟵𝟱,𝟬𝟬𝟬 𝗛𝗬𝗣𝗘 𝘁𝗼 𝗖𝗼𝗶𝗻𝗯𝗮𝘀𝗲 and requested redemption of 𝟮𝟭𝟭,𝟬𝟬𝟬 𝗛𝗬𝗣𝗘 staked on Hyperliquid. The tokens were acquired 5 months ago via Galaxy Digital OTC at $30. At the current HYPE price of $61, the position has roughly doubled — an $𝟭𝟴.𝟴𝗠 𝘂𝗻𝗿𝗲𝗮𝗹𝗶𝘇𝗲𝗱 𝗽𝗿𝗼𝗳𝗶𝘁 before this sell-off. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: A $37M HYPE sell from a named VC fund is meaningful selling pressure on Hyperliquid's native token. Multicoin is taking profits after a 2x run, not panic-selling — but the size is significant relative to HYPE's daily volume. The split between the Coinbase transfer (likely market sell) and staking redemption (needs unstaking period) means the full $37M won't hit instantly. The 211K staked portion creates a 𝗱𝗲𝗹𝗮𝘆𝗲𝗱 𝘀𝗲𝗰𝗼𝗻𝗱 𝘄𝗮𝘃𝗲 of supply that could cap upside near-term. HYPE read: a VC exit at 2x after 5 months is a classic take-profit pattern. Watch whether HYPE absorbs this supply or weakens — if the 395K Coinbase transfer clears without major price impact, the staking redemption wave becomes the next test. Key support sits around the $55–$58 zone where HYPE consolidated before the recent leg up. Wallet: https://arkm.com/explorer/address/0xaB319403E72C5e97c65ef70031bab8827efc5297 source: EmberCN Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=1534(Hupzy (Spot On Chain))