1.75 Million HYPE Tokens Unlocked, Impact on Price Sparks Debate

The Hyperliquid decentralized exchange (DEX) saw the release of 1.75 million HYPE tokens for its developers and core contributors on Saturday, generating a market value exceeding $60.4 million. This unlock was part of a pre-planned vesting schedule previously announced by pseudonymous developer iliensinc, who marked the first anniversary of Hyperliquid’s landmark airdrop and token generation event. 270 million tokens were fully unlocked in November 2024, representing a value of approximately $9.5 billion at current market prices.