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HyperLabs Unstakes $24.25M HYPE, Splits Across 9 Wallets; Flowdesk Route Points to Selloff
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News EditorOn-chain tracker EmberC flagged that HyperLabs, the development team behind Hyperliquid, unstaked 433,000 HYPE tokens (approximately $24.25 million) a week ago. The tokens landed at the team's address early yesterday morning and were distributed across nine wallet addresses early today. Based on HyperLabs' previous unstaking-related transfer patterns, the HYPE is expected to move through market maker Flowdesk into centralized exchanges, signaling a potential sell-off. BlockBeats reported the finding on Aug 7.
HyperLabsHYPEHyperliquidUnstakingSelloffFlowdeskEmberCOn-chain Monitoring
On Aug 7, BlockBeats reported that on-chain tracker EmberC is monitoring HyperLabs, the development team behind Hyperliquid. The 433,000 HYPE tokens (approximately $24.25 million) requested for redemption from staking a week ago arrived at the team's address early yesterday morning.
Early this morning, the entire 433,000 HYPE was distributed and transferred to nine separate wallet addresses.
Based on HyperLabs' previous unstaking-related transfer patterns, these tokens are expected to flow into centralized exchanges (CEX) through market maker Flowdesk, which could point to an imminent sell-off.
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