Worth $332 Million, 1.25 Million HYPE Restaked After HyperLabs Redeems 3.75 Million HYPE

Odaily News: Hyperliquid development team HyperLabs redeemed 3.75 million HYPE, worth $332 million, 8 hours ago. Four hours ago, these HYPE tokens were distributed through 5 wallets and then consolidated to address 0x875...1d, which is suspected to be an institutional address that purchased tokens from the team via OTC. Of these, 1.25 million HYPE, worth $110 million, were restaked; the remaining 2.5 million HYPE, worth $220 million, remain in that address.