HYPE completes its first massive unlock, token price remains stable without significant fluctuations

BlockBeats News, November 30, according to Tokenomist data, Hyperliquid's first token unlock took place at 15:30 Beijing time on November 29, unlocking 9.92 million HYPE tokens worth $312 million, accounting for 2.66% of the circulating supply. According to market information, after this unlock, HYPE has not experienced significant price fluctuations. HYPE is currently priced at $34.4, down 1.43% in 24 hours, and up 7.9% over the week.

This unlock is the first since the TGE in November 2024. According to the official Medium article, core contributor tokens are locked for one year after the TGE, with most vesting to be completed between 2027 and 2028.

Arthur Hayes explained the reason for selling HYPE on September 22: massive unlocks are a "Sword of Damocles"