Hyperliquid: HyperLabs Redeems 3.75M HYPE

Hyperliquid development team HyperLabs redeemed 3.75 million HYPE tokens valued at $332 million eight hours ago, routing the assets through five wallets before consolidation at address 0x875...1d1, widely viewed as an institutional OTC buyer.

Of the total, 1.25 million HYPE ($110 million) returned to staking while 2.5 million HYPE ($220 million) remains uncommitted in the wallet. On the 4h chart, price sits at $87.0 inside the Bollinger Bands with lower support at $86.1 and upper resistance at $96.11; the EMA200 at $87.45 acts as immediate structural support while the EMA50 at $90.08 caps upside, and the MACD death cross at -0.83 alongside neutral RSI at 34.61 signals continued bearish pressure that could drive a test of the lower band before any reversal. Traders tracking HYPE price prediction models now weigh this large token distribution against potential crypto market crash scenarios and broader AI industry impact on related tokens.