Hyperliquid Labs is unstaking 3.75 million HYPE tokens, valued at approximately $329 million. These tokens represent the October payout for the project team. Co-founder iliensinc announced the plan via the project's Discord server.
The entire batch of tokens will be transferred to a single institutional buyer through an over-the-counter (OTC) deal. This private transaction bypasses public exchange order books, which typically prevents large sell orders from directly impacting market prices.
The 3.75 million tokens account for roughly 1.5% of the current circulating supply of HYPE. While the OTC deal limits immediate sell pressure, the lack of a publicly disclosed lock-up period for the buyer creates uncertainty regarding future market supply.
Historical data on previous HYPE unlocks shows varied price reactions. Following the August unlock, the price fell by 3% within 14 days, while the July unlock was followed by a 7% decline. Conversely, the June unlock saw a 1% gain for the token.
