HYPE drops 4% to $87 as team starts $330M token deal
Hyperliquid Labs has completed the seven-day unstaking of 3.75 million HYPE worth roughly $330 million, allowing tokens tied to a private institutional deal to begin moving across wallets. Onchain Lens reported on Oct. 7 that the tokens had reached Hyperliquid Labs spot balance, with 1.875 million HYPE subsequently sent across five addresses. Each wallet initially received 375,000 tokens, representing half of the 3.75 million-HYPE allocation. The tracker said the tokens were linked to an over-the-counter, or OTC, agreement with an undisclosed institution and would not be sold directly through the open market. An OTC transaction allows two parties to arrange a transfer privately without placing the entire order onto a public exchange order book. HYPERLIQUID LABS STARTS $330M HYPE OTC DISTRIBUTION Unstaking of 3.75M $HYPE ($330M) has finished after 7 days, with the tokens now credited to Hyperliquid Labs spot balance. These tokens will not be sold on the open market. Instead, the Hyperliquid Labs team has arranged an… pic.twitter.com/70MG4Qg898 — Onchain Lens (@OnchainLens) October 7, 2026 Earlier reporting linked the deal to Hyperliquid‘s October team distribution. FinanceFeeds reported that Hyperliquid co-founder iliensinc said in the project’s Discord that the entire 3.75 million-token block was covered by an institutional OTC arrangement. The buyer, negotiated price and any









