Hyperliquid development team HyperLabs successfully redeemed 3.75 million HYPE ($332 million) 8 hours ago. Four hours ago, after being distributed across 5 wallets, the tokens were ultimately consolidated into address 0x875...1d1 (likely an institution that bought the tokens OTC from the team).
Then, 1.25 million HYPE ($110 million) were restaked, while the remaining 2.5 million HYPE ($220 million) are sitting in the wallet.
Address: 0x875783b13E6157E8fb70985c9602AfA18e7A31d1
Then, 1.25 million HYPE ($110 million) were restaked, while the remaining 2.5 million HYPE ($220 million) are sitting in the wallet.
Address: 0x875783b13E6157E8fb70985c9602AfA18e7A31d1