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The HYPE first large-scale unlock has been completed, with no significant token price fluctuation.
BlockBeats News, November 30th, according to Tokenomist data, Hyperliquid's first token unlock was conducted on November 29th at 15:30 Beijing time, unlocking 9.92 million HYPE tokens worth $312 million, accounting for 2.66% of the circulating supply. According to market data, there was no significant price fluctuation after this unlock, with HYPE now trading at $34.4, a 1.43% decrease in the past 24 hours, and a 7.9% increase for the week.
This unlock is the first since the TGE in November 2024. According to the official Medium article, core contributor tokens were locked for one year post-TGE, with the majority of vesting scheduled between 2027 and 2028.
Arthur Hayes previously elaborated on the reasons for selling HYPE on September 22nd: Large-scale unlocks are the "Sword of Damocles"
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