Switch to seedless. Get 30% off with SWITCH30 till Oct 26Multicoin Capital bets big on Hyperliquid’s HYPE token
7 Investments Multicoin Capital has made HYPE its largest holding, projecting prices up to $689 by 2028. The firm supports clearer SEC rules for token airdrops and secondary markets.
Multicoin Capital has positioned Hyperliquid’s HYPE token as its largest hedge fund holding, signaling a strong commitment to cryptocurrency investments even as much of the industry pivots toward artificial intelligence and robotics. The firm, which manages around $2.7 billion in assets, built its HYPE position through public-market purchases, though the exact amount remains undisclosed. Multicoin’s investment thesis expects Hyperliquid to expand from a decentralized derivatives platform into a broader financial exchange. According to internal models, HYPE’s price could reach between $109 and $689 by 2028. Currently, the token trades near $79, with a market cap ranging from $17.5 billion to $20.1 billion—approximately 17% to 20% below its all-time high. The firm has publicly reaffirmed its focus on digital assets and clarified that recent HYPE transfers to Coinbase Prime do not necessarily indicate sales. Meanwhile, the Hyperliquid Policy Center has submitted a comment letter to the SEC, advocating for clearer regulations on token airdrops and secondary market operations, along with five additional rule suggestions.
