According to CoinMeta, Hyperliquid Labs will unlock 3.7 million tokens today, worth approximately $329 million, and the entire batch will be transferred to an institutional buyer. These tokens are part of the October payment for the Hyperliquid team. Co-founder Iliensinc disclosed this plan on the project Discord server. Hyperliquid is a blockchain built around a futures exchange, and its token Hyperliquid ( HYPE ) is currently trading at $90, with a rise of nearly 5% today. Unlocking means taking the tokens out of a locked state, and the unlocking process for Hyperliquid will take seven days. Hyperliquid Labs has reached an over-the-counter (OTC) transaction agreement with an institution ( OTC ) to sell 3.75 million tokens for the team's October unlocking, and these tokens will not be sold on the public market. This unlocking may have an impact on the price of HYPE, but since the transaction is conducted on the OTC exchange, the short-term impact on prices may be limited.