EL7.AI
CryptoMedium•22 July 2026•
1 min read

HYPE Token Faces Pressure as Multicoin Capital Unstakes 1.96M Tokens

Key Facts

1Multicoin Capital unstaked 1.96 million HYPE tokens valued at approximately $120 million.
2Multicoin Capital has already sold 395,570 HYPE tokens worth $23.78 million.

Amid heightened sensitivity to institutional whale movements in the crypto sector, the Hyperliquid market is facing renewed anxiety. According to reports, Multicoin Capital unstaked 1.96 million HYPE tokens, a position valued at approximately $120 million. This significant move by a major venture capital backer signals potential downward pressure as the market braces for further liquidation.

Analysis of on-chain activity reveals that Multicoin Capital has already offloaded 395,570 HYPE tokens, worth an estimated $23.78 million. This institutional selling follows a pattern of previous sell-offs linked to other large wallets, reinforcing a bearish sentiment among retail traders who fear a sustained supply overhang in the market.

Traders should remain cautious as further sales from this $120 million position could act as a catalyst for increased price volatility in the coming sessions.