Hyperliquid Labs Unstakes 3.75 Million HYPE for $329…

AI summary of the source article

Hyperliquid Labs initiated the unstaking of 3.75 million HYPE tokens from its October team distribution, valued at roughly $329 million when announced. Co-founder iliensinc confirmed via Discord that the allocation will be sold to a single institutional buyer via an over-the-counter transaction rather than on open markets. The batch represents about 1.5% of HYPE's circulating supply. Hyperliquid's staking system requires a seven-day waiting period, making the tokens transferable around October 7. While the private deal removes immediate selling pressure from exchange order books, the buyer's identity, purchase price, and potential lock-up terms remain undisclosed.

Why it matters

Executing the transfer as an over-the-counter deal avoids immediate mechanical selling pressure on public order books for roughly 1.5% of circulating supply. However, long-term supply risk remains because the buyer's identity, purchase price, and lock-up terms have not been disclosed.

Key facts

• Hyperliquid Labs is unstaking 3.75 million HYPE tokens, valued at approximately $329 million when disclosed, for an institutional OTC sale.
• The transaction involves roughly 1.5% of HYPE's circulating supply and originates from the team's October allocation.
• The unstaking process has a seven-day waiting period, with tokens expected to become transferable around October 7.