HyperLabs deposits $17.3M in HYPE to Bybit, OKX

Lookonchain reported via X that HyperLabs deposited 400,000 HYPE, worth approximately $17.34 million, to Bybit and OKX over the past 11 hours. The firm had unstaked 421,879 HYPE, worth around $18.08 million, two days ago. Deposits to exchanges are generally interpreted as a precursor to selling.