A wallet believed to be linked to Multicoin Capital deposited 62,700 HYPE worth about $4.37 million into Coinbase Prime, according to Onchain Lens. The same entity had deposited 172,710 HYPE worth about $10.15 million the previous day, bringing the reported transfers to roughly 235,410 HYPE valued at about $14.52 million. Exchange deposits can indicate potential preparation for a sale, although neither transaction confirms that tokens were sold. Separately, Arkham monitoring cited by PANews said trader watershedpath’s HYPE long position rose from $55 million to $99.7 million as the token rebounded; the trader was showing a $46.3 million profit and withdrew $10 million to Coinbase.