Svmuu News: Tushar Jain, Managing Partner at Multicoin Capital, posted on X stating that a large amount of HYPE was unstaked yesterday, but not for the purpose of selling assets. He noted that because institutional capital flows are continuously tracked on-chain, forcing them to rotate wallets periodically, this highlights the importance of privacy infrastructure. This is also why Multicoin Capital has long been bullish on Zama and Zcash.
In a previous report, on-chain analyst Yu Jin observed that an address suspected to be associated with Multicoin Capital (0xaB3...297) was selling 607,000 HYPE tokens, worth $37 million.
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Multicoin Capital: No Plans to Sell HYPE; Remains Bullish on Zama and Zcash in the Long Term
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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