The Hyperliquid development team redeemed 433000 HYPEs and sold them for $24.25 million through Flowdesk

According to on chain analyst Yu Jin's monitoring, Hyperliquid development team HyperLabs redeemed 433000 HYPEs worth approximately $24.25 million from staking early yesterday morning and is currently selling them through market maker Flowdesk. The development team has transferred 165000 HYPEs ($9.23 million) to Flowdesk, and transferred 75000 HYPEs ($4.19 million) to Hyperliquid for sale in USDC. Another 90000 HYPEs ($5.04 million) have been transferred to OKX and Bybit.