Hyperliquid has confirmed that a total of 1.75 million HYPE tokens have been unlocked for developers and core contributors, worth over $60.4 million.
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TL;DR
Hyperliquid confirmed 1.75 million HYPE tokens, worth over $60.4 million, were unlocked for developers and core contributors as part of a pre-arranged vesting plan. This follows a larger 270 million token unlock worth $9.5 billion, with no investor selling pressure due to no external funding.
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HyperliquidDecentralized Exchange (DEX) TokenDerivativesLayer 1HYPE tokenstoken unlockvesting plancryptocurrency
According to Mars Finance, on November 30th, the Hyperliquid team confirmed on their official Discord channel that 1.75 million HYPE tokens will be unlocked for developers and core contributors this Saturday, worth over $60.4 million at current prices. This unlock is part of a pre-arranged vesting plan and was disclosed in advance. For comparison, approximately 270 million tokens were fully unlocked on November 29th, 2024, and are worth approximately $9.5 billion at today's market capitalization. Hyperliquid has never raised external funding, therefore there is no selling pressure from investors after the unlock.