My long form thoughts on the team unstaking 2.6M HYPE: - The team tokens have been staked since day 1. It’s been said that the yield on that is also locked, but didn’t state what the lock duration is, meaning the rewards thus far could be unlocked? They have 4.8M in rewards, so this could be a partial unstaking of just the yield generated in 2025. - 2.6M HYPE is barely over 1% of the total team allocation. Meaning it would take nearly 100 years to unlock at this rate, so this is clearly not the full first month being unstaked. All we know is most vesting finishes in 24-36 months, but some beyond that. Wish we get more clarity here. - Unstaking could mean the intent is to sell, but does not guarantee so. Each team member has partial ownership of what is unstaking, and regardless of what anybody’s intent is, the HYPE could be distributed to each team members’ wallets for personal use. Hyperliquid