Multicoin Capital is reported to have moved $5.6 million in HYPE to Coinbase following the unstaking of $71.1 million worth of the token, an on-chain observation that has drawn trader attention but remains unconfirmed by any verified transaction record. The reported movement involves a transfer of HYPE, Hyperliquid’s native token, to Coinbase, a destination that traders routinely watch because exchange deposits can precede selling. The transfer is described as an on-chain signal, not a confirmed sale. For related coverage, see Binance to Launch U/USD Spot Trading Pair on July 30, 2026.