- Hyperliquid unlocked 1.75M HYPE tokens worth over $60M on November 29 for developers.
- HYPE fell over 6% in 24 hours, trading around $33.46 after the developer unlock.
- 270M HYPE tokens were fully unlocked in 2024, totaling $9.5B in value at the time.
The price of Hyperliquid’s native token HYPE dropped more than 6% after 1.75 million tokens were unlocked for its development team. The unlock, valued at over $60 million, raised investor concerns about increased selling pressure.
Developer Token Unlock and Market Response
Hyperliquid distributed 1.75 million HYPE tokens to core contributors on November 29, 2025. This release, worth approximately $60.4 million, was part of a scheduled vesting program. The token dropped from $36.07 to $33.46 within 24 hours, marking a 6.82% decline.
The distribution followed a one-year lock-up period and aligns with the project’s long-term token release strategy. Developers and contributors are allocated 23.8% of the total 1 billion HYPE tokens. The tokens are released gradually over three years, according to the vesting schedule.
Market analyst Arthur Hayes noted that even scheduled unlocks can cause selling pressure. “Even if the team pinky swears to not sell, nothing is holding them to that,” he said.
Historical Context and Platform Fundamentals
The recent unlock came a year after Hyperliquid’s massive token airdrop in November 2024. During that event, 270 million HYPE tokens were distributed to users, valued at $9.5 billion in today’s prices. Hyperliquid has not raised funds from external investors, focusing instead on a community-driven model.
Pseudonymous developer Iliensinc confirmed that Saturday’s unlock was in line with the project’s original distribution plan. He described it as part of the continued vesting program and celebrated the one-year anniversary of the token’s launch.
Despite recent volatility, Hyperliquid’s decentralized exchange handles around $330 billion in monthly trading volume. The project operates with a small team and is recognized for strong on-chain revenue generation.
The HYPE token reached an all-time high of $59.40 in September but has since fallen by 42%. It remains below its 200-day moving average. During the October 10 market crash, HYPE fell 54% in a single day before rebounding above $40.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
