Odaily Planet Daily reports, according to on-chain analyst Yujin, 433,000 HYPE tokens, valued at $24.25 million, which were redeemed from staking by the Hyperliquid development team HyperLabs address (0x43e...251) a week ago, arrived yesterday morning. This morning, the redeemed 433,000 HYPE tokens were distributed to nine wallets. Based on previous unstaking transfer records, these HYPE tokens are expected to enter CEXs via the market maker Flowdesk.
HyperLabs Redeems 433,000 HYPE Worth $24.25M, Tokens Distributed to 9 Wallets
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Summary
HyperLabs redeemed 433,000 HYPE tokens worth $24.25 million from staking, with the tokens arriving at the team’s address last night. Early this morning, the tokens were distributed to nine wallets. On-chain data indicates that the HYPE is likely to flow into CEXs via market maker Flowdesk. Altcoins to watch may include HYPE as activity increases.
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