Hyperliquid Labs Executes $329 Million OTC Token Sale

Hyperliquid Labs is unstaking 3.75 million HYPE tokens, valued at approximately $329 million, which have been sold to an institutional buyer via an over-the-counter (OTC) deal. This transaction represents the team's October token unlock. By opting for an OTC sale rather than an open-market release, the project aims to mitigate potential sell pressure on the HYPE token, which currently trades at $90.