Altcoin Team Makes a $331 Million Move: A Key Detail in Its Selling Plan

Lookonchain reported that HyperLabs unstaked 3,75 million HYPE for a team distribution and over-the-counter sale plan, but one-third of that amount was restaked.

According to the on-chain data platform’s October 8 post, the transaction took place about nine hours before the announcement. The 3,75 million HYPE unstaked was valued at approximately $331,4 million.

After the move, not all of the tokens remained in wallets. While 1,25 million HYPE was restaked, the remaining 2,5 million HYPE is held in two separate wallets.

One-third was restaked, while the rest remains in two wallets

Of the wallets shown by Lookonchain with abbreviated addresses, 0x8757 holds 1,875 million HYPE, while 0x3277 holds 625 thousand HYPE. Thus, one-third of the initial withdrawal was returned to staking, while two-thirds remained at these two addresses.

The platform links the withdrawal to a plan for distribution to team members and an OTC sale. OTC refers to transactions conducted directly between parties through an over-the-counter channel rather than through an exchange’s public order book.

The $331,4 million figure in the report represents the value of the total amount unstaked. Since the restaked portion is also included in that total, the entire amount should not be interpreted as a completed sale; no information was shared indicating that the sale had been completed.