Data: HyperLabs sold 433,000 HYPE after redeeming from staking through Flowdesk

According to on-chain analyst Yu Jin's monitoring, the Hyperliquid development team HyperLabs redeemed 433,000 HYPE from staking early yesterday morning, worth $24.25 million, and has now sold it through the market maker Flowdesk.

In the past few hours, 165,000 HYPE, worth $9.23 million, has been transferred to the market maker Flowdesk; 75,000 HYPE, worth $4.19 million, has been transferred to Hyperliquid and sold for USDC; another 90,000 HYPE, worth $5.04 million, has been transferred to OKX and Bybit.