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Alert
Hyperliquid Team Wallet Activity: 2.6M HYPE Moved, Test Transactions Spark Airdrop Speculation
11/29/2025, 05:17
11/29/2025, 06:36
AI SUMMARY
●Hyperliquid team wallet moved ~2.6M HYPE from staking to spot, retaining 240M staked.
●Subsequent 1 HYPE transfers to new wallets suggest distribution mechanism testing.
●Activity has sparked speculation regarding an imminent airdrop event.
A significant movement of HYPE tokens has been detected on-chain, drawing attention from the trading community. According to HypurrScan data, the Hyperliquid team address (0x43…a251) initially transferred roughly 2.6 million HYPE, valued at approximately $90.18 million, from staking to a spot wallet at 12:32 UTC+8. Despite this transfer, the team address still retains a substantial holding of 240 million staked HYPE, valued around $8.36 billion.
Following the initial movement, further on-chain analysis indicates that the wallet received 2.5 million HYPE and subsequently began initiating multiple test transactions of 1 HYPE to new wallets. This specific pattern of activity—moving a large sum to a distribution-capable wallet followed by micro-transactions—is interpreted by traders as a final testing phase for distribution mechanisms.
[Update 1] On-chain observers have noted that after the initial transfer, the team wallet began sending small 1 HYPE transfers to fresh wallets. This behavior has fueled market speculation that an airdrop event or reward distribution may be imminent.