Arkham AI said it identified a suspected wallet linked to Multicoin that holds $26.9 million in HYPE, with about $10.5 million in unrealized profit. According to Arkham AI’s post on X, the address received $39.4 million from Galaxy Digital OTC and later deposited $22.99 million to Coinbase. The disclosure highlights sizeable HYPE-related fund flows involving a wallet that Arkham attributes to Multicoin, though the identification is not an official confirmation from Multicoin.