Multicoin Capital Cuts HYPE Stake Again, Selling Nearly 75% of Peak Holdings

Multicoin Capital reduces its HYPE holdings, selling nearly 75% of its peak position and retaining about $90.5 million worth of HYPE.

Multicoin Capital has reduced its HYPE holdings again, selling roughly 10% of its position and leaving the investment firm with about $90.5 million worth of the token, according to blockchain intelligence platform Arkham and information shared by Wu Blockchain on X.

Despite the latest reduction, HYPE remains Multicoin Capital’s largest on-chain position. The firm’s holdings, however, are now only slightly above one-quarter of the amount it controlled at its peak earlier this year.

Multicoin’s HYPE Position Falls Sharply

According to the information cited by Wu Blockchain, Multicoin accumulated around 4 million HYPE tokens at the height of its position during February and March.

The firm has since substantially reduced that exposure. Its current holdings represent slightly more than a quarter of the peak amount, meaning Multicoin has sold nearly 75% of its largest HYPE position.

The latest transaction involved the sale of roughly 10% of the remaining HYPE holdings, based on Arkham’s tracking data. After the reduction, approximately $90.5 million in HYPE remained in Multicoin’s on-chain holdings.

Source: Xpost

The scale of the reduction marks a significant change from the firm’s position earlier in the year, when its HYPE holdings reached roughly 4 million tokens.

HYPE Remains Multicoin’s Largest On-Chain Position

Although Multicoin has reduced its exposure substantially, HYPE continues to represent the firm’s largest on-chain position at about $90.5 million.

The figures tracked by Arkham provide a view of Multicoin’s publicly visible blockchain holdings, but they do not establish the firm’s broader investment strategy or explain the reasons behind individual transactions.

The latest sale therefore provides a measurable update on the size of Multicoin’s HYPE position without indicating whether the firm intends to continue reducing its holdings.

Nearly Three-Quarters of Peak Position Sold

Multicoin’s current HYPE balance stands at only slightly more than 25% of its peak holdings. From the approximately 4 million HYPE accumulated during February and March, the firm has now sold nearly three-quarters of that position.

The latest reduction leaves the remaining stake at about $90.5 million and keeps HYPE as Multicoin’s largest on-chain asset position.

Further changes to the position will depend on subsequent transactions recorded on-chain. For now, the latest Arkham data shows that Multicoin’s HYPE holdings have fallen substantially from their February and March peak.

Data source: Wu Blockchain

Writer: Marcus Renfield

Crypto Market Analyst & Onchain Writer

Marcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.

He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.