Hyperliquid Labs unlocked a total of 3.75 million HYPE tokens on October 7, 2026, worth approximately $330 million and representing nearly 1.5% of the circulating supply. This was the largest token unlock in HYPE’s history, roughly 9 times larger than the two previous monthly distributions which amounted to around 433,000 tokens each. Rather than selling on public exchanges, the team entered into an over-the-counter agreement with an undisclosed institutional investor, distributing 1.875 million HYPE across 5 buyer wallets, each containing exactly 375,000 tokens. According to Lookonchain’s on-chain data, 1.25 million HYPE, worth approximately $110 million, have already been restaked by the buyer, a signal considered reassuring regarding their intent to hold. HYPE was trading around $87.10 at the time of publication, down 2.8% over 24 hours and more than 11% below its all-time high of nearly $98 reached on September 23, 2026.
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