HYPE sets a fresh all-time high as Multicoin Capital continues moving tokens to Coinbase Prime

HYPE printed a new all-time high, but disclosures that Multicoin Capital deposited 427,422 HYPE (~$31.74M) to Coinbase Prime over the past three days signal potential distribution risk. Prime deposits typically precede liquidity provision or sales, raising near-term supply overhang concerns despite strong momentum. The headline is most relevant to HYPE, with limited immediate read-through to broader crypto markets.