HyperLabs has transferred 1.875 million HYPE to 5 OTC buyer wallets.

October 8th, according to Onchain Lens monitoring, the 3.75 million HYPE of the Hyperliquid development team HyperLabs has completed a 7-day unstaking process, and the tokens have now been credited to its spot balance, worth approximately $330 million. These tokens will not be sold on the open market, but will be used for an over-the-counter transaction reached between the team and an undisclosed institution.

Currently, 1.875 million HYPE has been distributed to 5 OTC buyer wallets, with each wallet receiving 375,000 tokens, accounting for 50% of the total 3.75 million OTC transaction allocation.