BlockBeats reported on Oct. 7 that 3.75 million HYPE previously submitted for unstaking by an address tied to HyperLabs, the development team behind Hyperliquid, has now been redeemed. On-chain analyst Ember said the unstaking request was made seven days earlier, and the redemption was completed two minutes before the update was published. Based on the figures cited in the report, the redeemed tokens were worth about $332 million at the time of the alert. The update was presented as an on-chain monitoring note and did not include additional details on the destination of the tokens or any follow-up transfer activity.
According to BlockBeats on Oct. 7, an address associated with HyperLabs, the development team behind Hyperliquid, has successfully redeemed 3.75 million HYPE that had been submitted for unstaking seven days earlier.
On-chain analyst Ember said the redemption was completed two minutes before the update. The tokens were valued at about $332 million based on the figures cited in the report.
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