Hyperliquid completed a seven-day transfer of 3.75 million HYPE tokens, valued at approximately $331.4 million, from staking to spot balances using an over-the-counter (OTC) structure with an undisclosed institutional counterparty. The transfer involved five wallets receiving 375,000 tokens each, but it is unclear if these represent separate buyers or intermediaries. About 1.25 million HYPE tokens were restaked, reducing immediate spot availability. The OTC method limits visible selling on public exchanges, and the future actions of recipients—whether holding, staking, or selling—remain unknown. Token price fluctuated between $86.60 and $94 during the period. This follows earlier reports of Hyperliquid's large OTC distribution and ongoing wallet movements.
Hyperliquid's recent $331 million OTC HYPE token distribution provides a backdrop for cryptocurrency market activity. For readers following major cryptocurrencies on Pluang, here is the market snapshot as of Oct 09, 2026 04:51 WIB: out of 50 priced assets, only 7 rose while 42 fell. Notably, SXP dropped sharply by 46.27% to Rp37 with a typical hold time of 94 days, contrasting with BAL which gained 11.14% to Rp16,297 and a shorter hold time of 85 days. SAND fell 14.15% to Rp1,189 with a longer hold time of 123 days and a Pluang order activity skewed 69% to sell.
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