A wallet suspected or possibly linked to Multicoin Capital transferred about 167,000 HYPE, valued at roughly $11.2 million, through an intermediary wallet to Galaxy Digital’s OTC platform, according to Onchain Lens and a report by Odaily. The movement was described as occurring 38 minutes earlier and shortly after 5 o’clock. The transfer suggests the tokens may be intended for an over-the-counter sale rather than a trade on a public exchange order book, a route often used for larger transactions to reduce visible market impact.