Involving $24.25 million, HyperLabs redeemed 433,000 HYPE from staking and sold via Flowdesk

Odaily News: According to on-chain analyst Ember's monitoring, HyperLabs, the development team behind Hyperliquid, redeemed 433,000 HYPE tokens from staking early yesterday morning, valued at $24.25 million, and has now been sold through market maker Flowdesk. Over the past few hours, 165,000 HYPE, worth $9.23 million, has been transferred to 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.