Multicoin Capital is suspected of selling HYPE worth $112 million since July 28, with estimated profits of $64.08 million and a return exceeding 134%. The entity accumulated 4.95 million HYPE from Galaxy Digital between January and July this year at an average price of $32.32, then apparently began taking profits in batches through exchanges. Its latest transfer to Coinbase occurred three hours ago and involved about 150,000 HYPE valued at $12.78 million, according to on-chain analyst Ai Yi. Exchange deposits can precede sales, but the transfer itself does not confirm that the tokens were sold.