Key Takeaways
- • Multicoin Capital has made Hyperliquid's HYPE token its largest hedge-fund holding, reaffirming a crypto-first strategy over standalone AI investments.
- • Multicoin, which manages $2.7 billion in assets according to a related report, began accumulating HYPE early in 2026 and holds it in its liquid fund.
- • Multicoin projects a HYPE price of $319 by 2028, based on expected growth in earnings and trading volume.
- • Recent large HYPE transfers to Coinbase Prime have not been confirmed as sales.
- • On October 19, 2026, HYPE traded at Rp1.416.796 on Pluang, up 2.46% over 24 hours, with a 50/50 split between buy and sell order activity.
Summary
Multicoin Capital has made Hyperliquid's HYPE token its largest hedge-fund position, according to Pluang's report, reaffirming the firm's focus on crypto assets rather than standalone artificial intelligence projects. The firm began accumulating HYPE early in 2026 and treats it as a core asset in its liquid fund. Per the report, Multicoin's bullish forecast calls for a HYPE price of $319 by 2028, a view grounded in projected earnings and trading volume growth.
Another report describes Multicoin, which manages $2.7 billion in assets, as continuing to concentrate on digital assets, with HYPE as its largest hedge-fund holding. According to that account, the firm acquired HYPE through public market purchases and typically holds such assets for several years. Cryptobriefing also framed the position as a Multicoin naming HYPE its largest hedge-fund holding, while noting a prediction market contract on HYPE reaching $100 by December 31, 2026 at 38.5% YES.
The position comes amid large recent transfers of HYPE tokens to Coinbase Prime. The reports do not establish whether these transfers represent sales, and Multicoin has not indicated any change to its holdings. Multicoin also remains skeptical of forced links between blockchain and AI, while other firms such as Paradigm continue to invest across crypto, AI, and robotics.
Market data cited by Pluang show HYPE trading at Rp1.416.796 as of October 19, 2026 at 23:32 WIB, up 2.46% over one day. The token's market capitalization was reported at Rp362,18 trillion, with 24-hour trading volume of Rp10,57 trillion and an even split between buy and sell order activity.
Another report describes Multicoin, which manages $2.7 billion in assets, as continuing to concentrate on digital assets, with HYPE as its largest hedge-fund holding. According to that account, the firm acquired HYPE through public market purchases and typically holds such assets for several years. Cryptobriefing also framed the position as a Multicoin naming HYPE its largest hedge-fund holding, while noting a prediction market contract on HYPE reaching $100 by December 31, 2026 at 38.5% YES.
The position comes amid large recent transfers of HYPE tokens to Coinbase Prime. The reports do not establish whether these transfers represent sales, and Multicoin has not indicated any change to its holdings. Multicoin also remains skeptical of forced links between blockchain and AI, while other firms such as Paradigm continue to invest across crypto, AI, and robotics.
Market data cited by Pluang show HYPE trading at Rp1.416.796 as of October 19, 2026 at 23:32 WIB, up 2.46% over one day. The token's market capitalization was reported at Rp362,18 trillion, with 24-hour trading volume of Rp10,57 trillion and an even split between buy and sell order activity.
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