Hyperliquid team redeems 3.75M HYPE worth $332M, restakes part of it
- —HyperLabs redeemed 3.75M HYPE worth $332M within 8 hours
- —Tokens were consolidated at address 0x875...1d1 via five wallets
- —1.25M HYPE worth $110M was restaked
- —2.5M HYPE worth $220M remains in the wallet
Why it matters: The large redemption and partial restaking reduce HYPE's free float and signal the team's support for the token's price.
Source: PANews