Multicoin Capital makes HYPE largest hedge fund holding: Bloomberg

CryptoBriefing Multicoin Capital, a prominent crypto investment firm managing approximately $2.7 billion, has identified HYPE as its largest holding within its hedge fund, according to Bloomberg. The firm has acquired the tokens on public markets, though the exact size of the holding has not been disclosed. Multicoin Capital’s decision to focus on HYPE, the native token of the Hyperliquid decentralized derivatives protocol, suggests the firm’s ongoing commitment to digital assets, rather than diversifying into artificial intelligence sectors. HYPE is currently valued near $79, with a market cap ranging between $17.5 billion and $20.1 billion, standing about 17% to 20% below its all-time high of $98. Key Takeaways Multicoin Capital’s focus on HYPE appears consistent with confidence in the token’s potential growth, reflecting a strategic decision to prioritize crypto over AI investments. The current market valuation of HYPE, significantly below its all-time high, suggests room for potential growth, aligned with Multicoin’s strategic outlook. The market pricing for Hyperliquid’s potential to reach $100 by the end of 2026 has shown increased activity, with recent odds at 38.5% for a YE...