Hyperliquid Labs: Moves 452K HYPE Tokens to Flowdesk

Hyperliquid Labs transferred 452,000 HYPE tokens worth $32.32 million overnight, routing portions through market maker Flowdesk to its wallet and deposit addresses on OKX, Bybit and Gate. HYPE fell 5% on the day.

The move follows sustained distribution pressure over the past six months as core team wallets reduced exposure ahead of broader ecosystem unlocks. Exchange inflows via Flowdesk typically precede accelerated sell-side liquidity on spot books.

Price action on the 4h chart shows HYPE at $67.62 testing the lower Bollinger Band support at $67.47 while the EMA50 resistance at $68.54 caps upside in a bearish structure. The MACD death cross at 0.06 reinforces downside momentum even as RSI at 41.31 remains neutral, pointing to further tests of the EMA200 at $65.45 before any relief rally.