HYPE team unlock sends 433,025 tokens toward exchanges

Fresh HYPE supply is moving through trading venues after HyperLabs unlocked 433,025 tokens worth more than $23 million, adding another test for Hyperliquid’s market as scheduled team distributions continue. Summary HyperLabs unlocked 433,025 HYPE worth about $23.46 million and moved tokens toward trading venues afterward. Lookonchain linked transfers to Flowdesk and OKX, but exchange deposits do not confirm sales occurred. HYPE traded near $54.6 Sunday after falling from levels above $56 before the unlock activity. Hyperliquid team distributions follow a vesting schedule that began in January and continues through 2027. Protocol buybacks provide HYPE demand, creating a counterweight to supply released through scheduled team vesting. On Aug. 8, onchain tracker Lookonchain reported that the development team had redeemed the tokens from staking and was gradually moving them toward Flowdesk and OKX. Further transaction tracking indicates that at least part of the allocation has already been sold rather than merely deposited. Onchain analyst Ember reported that 165,000 HYPE, worth about $9.23 million at the time, went to market maker Flowdesk. Of that amount, 75,000 HYPE worth roughly $...