Suspected Multicoin Capital sold 607000 HYPE at address, making a profit of $18.8 million

According to on chain analyst Yu Jin's monitoring, suspected addresses related to Multicoin Capital (0xaB3... 297) are selling 607000 HYPEs worth $37 million. This address transferred 395000 HYPEs to Coinbase 4 hours ago and applied to redeem 211000 HYPEs pledged on Hyperliquid. These HYPEs were purchased 5 months ago through Galaxy Digital OTC at a price of $30. Based on the current HYPE price of $61, the address has a profit of $18.8 million.