Five Addresses Begin Unstaking Nearly 1 Million HYPE on Hyperliquid
The addresses initiated unstaking of about 983,600 HYPE worth roughly $90.44 million. The tokens are expected to become available Oct. 1 after a seven-day wait.
Five addresses began unstaking about 983,600 HYPE worth roughly $90.44 million on Sept. 24, placing the tokens in Hyperliquid’s seven-day withdrawal process.
The transactions do not mean the tokens have reached tradable balances. Hyperliquid’s native staking process requires users to first remove HYPE from validators and then transfer it from staking balances to spot balances.
The five addresses initiated the process for approximately 391,800 HYPE, 209,600 HYPE, 146,400 HYPE, 135,700 HYPE and 100,100 HYPE, respectively. One address completed its amount through six separate operations.
The tokens cannot be sold, transferred or restaked during the waiting period. They are expected to become available in spot balances around Oct. 1, seven days after the unstaking actions began.
