Hyperliquid Development Team Redeems 433,000 HYPE Tokens and Sells for Approximately $24.25 million

August 8, according to EmberCN monitoring, the Hyperliquid development team HyperLabs redeemed 433,000 HYPE from staking this morning, worth $24.25 million, and has currently sold it through the market maker Flowdesk.

Within the past few hours, 165,000 HYPE has been transferred to the market maker Flowdesk; 75,000 HYPE has been transferred to HyperLiquid and sold for USDC; another 90,000 HYPE, worth $5.04 million, has been transferred to OKX and Bybit.