Hyperliquid dev team redeems 3.75M HYPE after 7-day unstaking, worth $332M

The size and timing are the story: a seven-day unstaking queue is a deliberate lock-up, and redeeming minutes after it clears signals the team wanted liquidity the moment it was available. That the redeemed amount equals a substantial share of circulating supply matters for anyone tracking HYPE's float and overhang, since team-controlled tokens returning to a liquid state can shift the demand-supply balance regardless of intent. Whether the tokens move to exchanges, get redeployed, or stay put is the open question; the on-chain destination is what to watch.