AmberCN reported that HyperLabs deposited 452,000 HYPE ($32.3 million) to an address related to market maker Flowdesk. Some of this was deposited to OKX, Bybit, and Gate.io. In this regard, Hubji (formerly Spot On Chain) analyzed, "The sale of assets through a market maker is a clear signal of supply pressure. The fact that Flowdesk deposited funds to exchanges suggests that the selling may still be ongoing. It is necessary to pay attention to whether additional withdrawals occur from the HyperLabs wallet. Each time additional assets move, direct selling pressure may increase."
