Hyperliquid Team Unstakes $329 Million of HYPE for OTC Sale to Single Institutional Investor

Hyperliquid Labs plans to unstake 3.75 million Hyperliquid tokens, or HYPE, worth $329 million and sell the entire amount over the counter to a single institutional investor.BeInCrypto reported on October 30 that Hyperliquid co-founder iliensinc wrote on Discord that the tokens are scheduled to be allocated to the Hyperliquid team in October and that one institutional investor will acquire the full amount.The 3.75 million HYPE tokens account for about 1.5% of the current circulating supply.It takes seven days to unstake HYPE on Hyperliquid.