Hyperliquid Team Unstakes $329 Million of HYPE for OTC Sale to Single Institutional Investor
JH Kim
Summary
- Hyperliquid Labs plans to unstake 3.75 million HYPE worth $329 million and sell the entire amount over the counter to a single institutional investor.
- The 3.75 million tokens account for about 1.5% of the current circulating supply, and one institution is set to acquire all of the tokens scheduled to be allocated to the Hyperliquid team in October.
- It takes seven days to unstake staked HYPE on Hyperliquid.
Forecast Trend Report by Period
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.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.