Galaxy Digital received 1 million HYPE tokens valued at $61.5 million after unstaking (unlocking previously staked tokens), according to Onchain Lens (blockchain data tracker) on May 29. The firm then deposited 500,000 HYPE, worth $30.36 million, to Bybit and OKX, two cryptocurrency exchanges. In crypto markets, transfers from unstaking into exchanges are commonly watched because exchange deposits can increase readily tradable supply, although the source only confirms the movement of funds and not any intended sale.