Hyperliquid Labs has begun allocating a 3.75 million HYPE tranche through an over-the-counter deal, according to on-chain data tracked by Onchain Lens. The tokens, valued in the report at about $330 million, were unstaked over a seven-day period and have now been added to the firm’s spot balance.
The report said the tokens are not intended for sale on the open market. Instead, the Hyperliquid Labs team has reached an OTC agreement with an institution whose name was not disclosed.
So far, 1.875 million HYPE has been distributed to five buyer wallets tied to the OTC allocation. Each wallet received 375,000 HYPE, meaning 50% of the total 3.75 million HYPE allocation has already been sent out. The update points to a structured off-market transfer process rather than direct selling through public exchanges.
Hyperliquid Labs has completed the unstaking of 3.75 million HYPE over the past seven days, according to monitoring by Onchain Lens. The tokens were valued in the report at about $330 million and have now been added to the firm’s spot balance.
The tokens will not be sold on the open market, according to the disclosed information. Hyperliquid Labs has reached an over-the-counter agreement with an institution that was not named.
So far, 1.875 million HYPE has been distributed to five OTC buyer wallets. Each wallet received 375,000 HYPE, equal to 50% of the total 3.75 million HYPE allocated for the OTC distribution.
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