A wallet believed to be linked to Multicoin Capital deposited 62,700 HYPE tokens, valued at about $4.37 million, into Coinbase Prime, Onchain Lens said. The same entity had deposited 172,710 HYPE into the exchange the previous day. Exchange deposits are commonly interpreted as potential preparation for a sale, although they do not establish that a sale occurred. An earlier report recorded the latest transfer as 62,730 HYPE and identified the address as 0x57C6D4bD52F592a265F59B595a905B04C848174B.