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According to Wu Shuo, based on MLM monitoring, a wallet suspected to be associated with Multicoin Capital is converting ETH into HYPE. Since January 22, a Galaxy Digital deposit address linked to Multicoin has received 87,100 ETH (worth approximately $220 million); meanwhile, on January 23, a wallet associated with Multicoin: 0xD4d…BC10 began receiving HYPE from Galaxy, totaling 1.354 million HYPE (worth over $46 million). Arkham analyst Emmett Gallic agrees, mainly because the wallet associated with Multicoin: 0xD4…BC10 previously received 56.117 million ENA from StablecoinX in mid-October last year, and on October 9, 2022, TLGY Acquisition Corp. and StablecoinX Assets Inc. officially announced their new strategic advisory board members, with Multicoin Capital Managing Partner Kyle Samani appointed as one of the four core advisors.