According to CoinMeta, multiple large whale addresses released their pledged tokens in bulk, totaling 983,600 HYPE tokens, worth approximately $90.44 million. Among them, the address 0x8b...d914 released 391,800 HYPE tokens, valued at $35.99 million; address 0x0a...b0ad released 209,600 HYPE tokens, valued at $19.24 million; address 0x15...d3fd released 146,400 HYPE tokens, valued at $13.46 million; address 0x55...c32a released 135,700 HYPE tokens, valued at $12.46 million; and address 0xd2...8321 released 100,100 HYPE tokens, valued at $9.29 million. According to the pledging process for Hyperliquid, a 7-day wait is required after the release before the tokens can be counted as part of the spot balance. Currently, these tokens cannot be sold, transferred, or re-pledged. The operations were initiated at 20:33 on September 24 (UTC +8), and it is expected that they will become unlocked on October 1.