BlockBeats News, August 22, according to Onchain Lens monitoring, the Multicoin Capital affiliated wallet transferred 197,560 HYPE to Coinbase in the past 9 hours, with a value of approximately $14.54 million.

The transfer address is: 0xCa292baAb13A6B97fC83bB142e689440Fd0812b8

Due to the funds flowing to a centralized exchange, on-chain analysis suggests that this operation "may be used for selling." Previously, Multicoin Capital has also transferred HYPE to Coinbase multiple times, drawing attention to institutional selling.