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HYPE Hyperliquid Labs 完成史上最大规模 HYPE 代币场外交易分发
Hyperliquid Labs 已完成了其 HYPE 代币历史上最大规模的场外（OTC）分发，释放了价值约 3.3 亿美元的 375 万枚 HYPE 代币。此次释放的代币占 HYPE 总供应量的 1.5%，构成了该项目十月分配计划的重要组成部分。
主要团队代币释放与 OTC 结构
此次分发遵循了一个为期一周的解除质押期，该期限从 9 月 30 日开始，至 10 月 7 日结束。在此期间，HYPE 代币处于锁定状态，随后才被允许进行转移。在释放的 375 万枚代币中，有 187.5 万枚 HYPE 通过场外交易分发给五名买家，每人获得 37.5 万枚 HYPE。此次分配中剩余的 187.5 万枚代币尚未转移，正等待十月份稍后的进一步操作。
场外交易通常用于执行大规模交易，而无需直接暴露于市场风险，从而减少即时价格波动。在这种情况下，这些代币并未进入公共交易所，而是通过私人协议直接交付给预先选定的交易对手方。
Hyperliquid Labs 联合创始人 Iliensinc 表示，这些转账是与机构买家的场外交易的一部分，但更多细节——包括买家身份和合同条款——仍保密。
This recent HYPE off-site distribution exceeded the distribution record of previous teams, which previously distributed between 140,000 and 534,000 tokens per month. This incident involved 3.75 million coins, an 8.65 times increase compared with the early release.
Terminology: OTC (OTC)
In the cryptocurrency space, OTC (OTC) refers to the private and direct exchange of large tokens between two parties, bypassing the open market to maintain price stability and limit slippage.
Market Impact and Stakeholder Outlook
HYPE prices remained stable despite concerns that such a large-scale release could lead to market turmoil. On-chain activity shows that after the initial transfer, some tokens are re-pledged or transferred to different wallets, indicating that internal distribution is still taking place or preparation for subsequent transfers.
The delayed release of the remaining 1.875 million HYPEs means that only a portion of the October team allocation has entered circulation. A previously released vesting schedule expected the nominal release of 9.9 million HYPE tokens this month, but the current actual distribution volume is far below this expectation, a detail that market observers regard as noteworthy.
OTC trading methods may help cushion sudden liquidity shocks in public markets, but key details such as selling prices, payment terms and any lock-up conditions have not been disclosed. The anonymous nature of the deal has left questions for investors and market analysts.
David Schamis, CEO of Hyperliquid Strategies DAT (PURR), publicly denied that he was the recipient of the OTC transaction: "I've said it publicly several times, so I'm here to say it again: This is not us. I don't know who it is, but I'm 100 percent sure it's not HypeStrat."
Market Data and Continuing Development
Current on-chain data shows strong market interest, with open positions in HYPE perpetual contracts reaching US$1.76 billion, and 24-hour trading volume reaching US$575.5 million. Currently, HYPE is trading at $87.30.
Market participants are closely watching the remaining scheduled transfers in October, as the size and speed of further allocations may affect prices and liquidity in the short term. The difference between the 9.9 million HYPE tokens in the attribution table and the 3.75 million that have been released so far remains a topic of discussion among HYPE token holders and investors.
