$HYPE Token Unlock: 1.75 million Tokens are issued 🔓 Will this affect the price?

The developers of Hyperliquid have unlocked 1.75 million HYPE tokens for builders and contributors. This batch has a market value exceeding 60.4 million USD. The anonymous developer iliensinc confirmed that this unlock was planned in advance, marking the one-year anniversary of the project's airdrop. Importantly, Hyperliquid has never raised external funding, so there is no unlock for investors affecting the supply.
This news has raised concerns about potential selling pressure, especially as HYPE has recently decreased by about 4.6%. This follows the massive airdrop of 270 million tokens last year, which is currently valued at approximately 9.5 billion USD. That event was a milestone for community-driven distribution. However, large unlocks often bring scrutiny from the market.
Market leaders, including BitMEX founder Arthur Hayes, emphasize the ongoing unlocking risks. Hayes warns that the team's assurances against unsold results are not guaranteed. He suggests that daily selling pressure has affected the price of HYPE since September. This Token has dropped about 42% from its all-time high of 59.40 USD, trading below its 200-day moving average. 📉
The important adjustment of HYPE began on September 19, before the widespread decline of cryptocurrencies in October. During that period, some altcoins lost up to 95% of their value. On October 10 alone, HYPE plummeted by 54% but demonstrated resilience, recovering to 40 USD within two days. This highlights its historical volatility. ⚡
Despite this volatility, Hyperliquid continues to receive strong praise from the industry. The project generates meaningful revenue and supports approximately $330 billion in monthly trading volume. This impressive performance is managed by a notably thin development team. This signals strong fundamentals. 💪
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