Hyperliquid developer HyperLabs redeemed 3.75 million HYPE about eight hours before the report, with the tokens valued at $332 million based on Odaily’s figures. Four hours later, the HYPE was routed through five wallets and then consolidated at address 0x875...1d. Odaily said the address is suspected to belong to an institution that bought tokens from the team through an over-the-counter, or OTC, transaction. Of the total, 1.25 million HYPE, valued at $110 million, was restaked, while the remaining 2.5 million HYPE, worth $220 million, stayed at the same address. The report describes the movement as an on-chain transfer and staking update involving team-related tokens, without providing additional details on the holder’s identity or any further transaction purpose.
Hyperliquid developer HyperLabs redeemed 3.75 million HYPE about eight hours before the report, according to Odaily. The tokens were valued at $332 million.
Roughly four hours later, the HYPE moved through five wallets before being consolidated at address 0x875...1d. Odaily said the address is suspected to belong to an institution that purchased tokens from the team through an OTC transaction.
Of the total, 1.25 million HYPE, valued at $110 million, was restaked. Another 2.5 million HYPE, worth $220 million, remained at the same address.
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