Hyperliquid Labs Privatizes 3.75M HYPE Token Sale
Hyperliquid Labs has announced plans to sell 3.75 million HYPE tokens in a private transaction on October 7.
The sale is eight times larger than the previous unlock of HYPE tokens, which occurred on September 6.
According to Hyperliquid's co-founder Iliensinc, the tokens are intended for an institutional buyer and will not be introduced to public markets.
This move is expected to reduce selling pressure on exchanges, potentially supporting a price increase for HYPE tokens.