FalconX deposits 350,000 HYPE worth $30.57 million on Coinbase in 3 days

FalconX, a leading digital asset trading firm serving institutional crypto clients, has transferred another 50,000 Hyperliquid (HYPE) tokens to Coinbase, bringing its total exchange deposits to 350,000 HYPE over the past three days. The latest transaction was valued at approximately $4.2 million, and the entire series of deposits now amasses about $30.57 million at recent prices. Onchain Lens, an on-chain market analytics service, drew attention to the most recent FalconX deposit into Coinbase. The ongoing transfers have fueled market discussions regarding whether these tokens could appear as significant sell-side activity. Despite the spike in exchange inflows, not all token deposits translate directly into immediate sales. Many tokens may remain idle in exchange wallets, serve liquidity needs, or be used for other operational purposes by trading desks.

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