The price of Hyperliquid (HYPE) opens 2023 facing a dynamic landscape of volatility and market uncertainty. A recent merger announcement has sparked major investor interest, creating a dedicated treasury aimed at buying HYPE on the open market, with initial capital allocated to purchase up to $1 billion worth of tokens. This substantial investment will potentially provide long-term price stability even during periods of market downturn. However, another factor driving HYPE’s trajectory in 2026 is the upcoming token unlock schedule. With a significant portion of HYPE (nearly 3% of the total supply) set to be released over the next few years, this influx could create pressure on price and affect the long-term outlook.