A wallet linked to HyperLabs, the development team behind Hyperliquid, requested the unstaking of 3.75 million HYPE around eight hours ago, according to Odaily. The tokens are valued at about $338 million and are expected to be released on the evening of Oct. 7. Odaily also noted that based on the address’s prior pattern of one unstaking event per month, the HYPE is usually transferred to Flowdesk after release. Flowdesk was identified in the report as an institutional trading platform and market maker. The update focuses on the unstaking request and the expected settlement timeline, with no additional on-chain action reported in the brief.
A wallet linked to HyperLabs, the development team of Hyperliquid, requested the unstaking of 3.75 million HYPE about eight hours ago, according to Odaily. The tokens are worth about $338 million and are expected to arrive on the evening of Oct. 7.
Based on the address’s previous pattern of one unstaking event each month, those HYPE tokens are usually transferred to Flowdesk after they are released. Odaily described Flowdesk as an institutional trading platform and market maker.
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