Hyperliquid Labs Unstakes 333,000 HYPE Tokens Valued at $13 Million for April 6 Team Distribution

On-chain data, reported by ChainCatcher, indicates that Hyperliquid Labs recently unstaked 333,000 HYPE tokens, valued at approximately $13 million. This action, occurring around 11 hours prior to the report, aligns with Hyperliquid's prior announcement that 333,000 tokens from Hyperliquid Labs would be unstaked on March 29. These tokens are designated for distribution to team members on April 6. Following the unstaking, HYPE tokens were observed trading at $37.56, reflecting a 5.14% decrease over the preceding 24 hours.