HyperLabs Unlocks $23 Million in HYPE Tokens

HyperLabs has unlocked 433,025 HYPE tokens worth over $23 million, which are being moved towards trading venues. This is part of the team's vesting schedule that began in January and continues through 2027.

The tokens were transferred to Flowdesk and OKX exchanges, with at least part of the allocation already sold rather than merely deposited. On-chain analyst Ember reported that 165,000 HYPE worth around $9.23 million went to market maker Flowdesk, while another 90,000 HYPE was routed to OKX and Bybit deposit addresses.

The latest data adds an important distinction to the original reports surrounding the unlock, as exchange deposits alone cannot prove that an asset was sold. The separate Flowdesk trail provides firmer evidence for part of the distribution, with 75,000 HYPE converted into USDC on Hyperliquid.