According to CoinMeta, and as monitored by on-chain analyst Yu Jin, the hyperliquid development team's hyperlabs associated address applied to redeem 179,706 HYPE tokens about 10 hours ago, worth approximately $14.49 million. It is expected that the unpegging will be completed on the evening of November 4th. This operation may continue the previous team token unlocking pattern, which involves first distributing the tokens to team members and then conducting over-the-counter transactions through the market maker flowdesk.