Multicoin Capital transferred 54.65 million ENA to Galaxy Digital, possibly through an OTC sale.

On June 5th, on-chain analyst Yu Jin reported that Multicoin Capital transferred 54.65 million ENA (worth $5.12 million) to Galaxy Digital four hours ago, possibly for sale through over-the-counter trading. ENA has fallen 14% in the past 24 hours. These ENA tokens were received from the project's wallet last October, at a time valued at $25.1 million, and have now shrunk by 80%. However, Multicoin Capital has made a profit of $28.3 million on HYPE: it bought 1.355 million HYPE tokens at $29 in January, sold half at $34 in March, and has held the other half ever since.