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Hyperliquid faces $1.2B token unlock
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Hyperliquid faces $1.2B token unlock

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  • Hyperliquid’s HYPE token reached a record US$83.27 before falling to about US$77.50.
  • A scheduled unlock will release 14,175,778 HYPE tokens worth about US$1.2 billion on 29 August.
  • Insiders will receive 46.6% of the unlocked tokens, raising potential selling pressure.

Hyperliquid’s HYPE (CRYPTO:HYPE) token reached US$83.27 before a US$1.2 billion token unlock due on 29 August.

The release will add 14,175,778 tokens, equal to 1.4% of total supply and 2.7% of market capitalisation.

Insiders will receive 46.6% of the tokens, while the community gets 46.3% and the Hyper Foundation receives 7%.

HYPE has shown mixed price reactions after recent monthly unlocks, falling 7% in July and 14.1% in May.

HYPE was trading around US$77.50 after reaching its record high, while the upcoming release includes about US$560 million for insiders.

Hyperliquid has also gained attention after Coinbase added 50x perpetual futures to its Base app using Hyperliquid’s infrastructure.

The next unlock of the same size is scheduled for 29 September, according to the report.

At the time of reporting, Hyperliquid price was $78.78.

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