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Deep Tide TechFlow message. On July 29, according to on-chain analyst Onchain Lens monitoring, some HYPE that Multicoin Capital previously un-staked has been transferred to Coinbase. Data shows that after the institution completed the un-staking, it received 1.29 million HYPE from Hyperliquid, worth about $71.1 million at the time; then 101.34k HYPE was transferred to Coinbase, worth about $5.6 million.
It was also explained that converting Hyperliquid staked assets from the staked balance back to the spot balance requires a 7-day waiting period.