Hyperliquid Labs to Unstake $320M in HYPE for OTC Sale to Institution

The mechanics here matter more than the headline figure: routing a monthly team unlock through an OTC desk keeps the supply off public markets, so the immediate test is whether that pattern holds or whether future unlocks reach exchanges. It signals that institutional demand for HYPE is being met privately rather than through open-market accumulation, which shifts where price discovery happens. Whether this OTC structure becomes the standing template for the team allocation, or a one-off, is the open question.