60M Hype Token Unlock: Sell-Off or Selling Point?

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In a move that has the crypto world buzzing with the kind of excitement usually reserved for the Duchess of Cambridge announcing a new addition to the Cambridge lineage, the team behind the decentralized exchange Hyperliquid has released a staggering 1.75 million HYPE tokens to developers and core contributors. The transaction, swelling with pride like a peacock on parade, is valued at over $60.4 million, in accordance with Hyperliquid’s meticulously planned vesting schedule.

This event marks the first anniversary of Hyperliquid’s storied airdrop, which was touted as one of the most splendid and community-focused token launches ever seen. But alas, the universe, in its infinite jest, has seen fit to have the HYPE token drop by over 23% in the past month, and almost 5% in the past 24 hours, as gleefully reported by CoinMarketCap.

Hyperliquid conveys, with the solemnity of a judge passing sentence, that 1.75 million HYPE tokens were released for developers and contributors, a sum delightful enough to make Croesus pause in his pleasurable avarice, thanks to the vesting schedule. – Wu Blockchain (@WuBlockchain) November 30, 2025

Not the First Time Tea Has Been Spilled

According to Hyperliquid’s chief wordsmith, iliensinc, such events are as regular as a British tea-time. He reminds the populace that in the not-too-distant past of November 2024, Hyperliquid’s token airdrop was unparalleled in the digital currency saga, dispensing nearly 270 million tokens, now a treasury of approximately $9.5 billion. Somehow, and this is nothing short of miraculous, Hyperliquid boasts neither VC unlocks nor investor vesting.

The renowned analyst KirbyCrypto indicated that the founder-tier wallet was blessed with 170,619 HYPE, the senior-tier scattered its 1,049,986 HYPE across 14 wallets, and the mid-tier showed modesty with 99,998 HYPE across two wallets. The smaller wallets were not forgotten, each receiving 30,000 HYPE, and the remaining 9 wallets graciously settled for 395,406 HYPE, a collective tally of 1,745,746 HYPE.

“Hyperliquid TGE Unlock and the Playthings Thereof”

“Behold the grand distribution of tokens and the curious conduct of team members during the first major unlock. Revel in the allocation.” – kirbycrypto.hl 🌊🏄‍♂️ (@kirbyongeo) November 29, 2025

The Splendid Distribution of Tokens

KirbyCrypto, with the discernment of a seasoned diva at curtain call, confirmed that a princely 23.4% of the tokens (609,100 HYPE) were sold OTC to Flowdesk and about 9% were coyly re-staked. Approximately 35% relished in the spoils untouched, and the ever-resourceful Hyperlabs added another 33% to the re-stake tally. Clearly, the contributors prefer to clutch their tokens as a dear friend might their favorite teacup.

Crypto McKenna, in his usual incisive analysis, found that the restaking effort constituted a staggering 40% of core contributor allocations, while just over 23% of the unlock made its way to Flowdesk. His vision of the future predicts Hyperliquid might shed light on funds in buyers’ pockets far exceeding fearsome headlines of sell-side pressure, come a financial Armageddon.

“A Little Math on the First Hyperliquid Core Contributors Unlock: Whispering Whims of Markets”

“2.6M HYPE dispersed with 41.89% re-staked by Hyperlabs and diligent contributors. 23.42% entrusted to Flowdesk, while a patient 34.69% overlooks HyperCore, awaiting its cue. At the turn of 2026, one might gaze upon…” – McKenna (@Crypto_McKenna) November 30, 2025

For those with a penchant for financial drama, there exists a conjecture where the looming modelled buy pressure waltzes past $2.1 billion thanks to revenue, whilst the potential sell pressure hums a rather modest tune at near $598 million.

HYPE Price Analysis: A Tragedy More Gripping than Decline

The HYPE chart paints a picture as forlorn as a melodrama’s last act: trapped in a falling wedge reminiscent of a sitz bath skewed south since September. The price, in its modesty, trades near the pattern’s lower boundary, dutifully staying beneath the stern watch of the 200-day moving average.

A flicker of hope as elusive as capturing Dowager Countess in a favorable light might occur with a bullish break above the wedge’s upper trendline, only to catapult HYPE towards the mid-$40 range – a precarious journey marked at $36 and $41. A noble break above the 200-day level might set its sights on September’s high, a venture whose outcome could be as talked about as an impromptu royal touching of ashes at Almack’s.

HYPE price chart locked in a theatrical wedge | Source: TradingView

But lo, should fortune forsake the coin and a bearish outcome seize the day, the price would slip below the wedge’s support like a court jester tumbling from grace. This would usher in the $30 zone, a domain notorious for unwieldy volatility. Should it falter, a regrettable plunge into the $20s could ensue, exposing the crowds to a denouement more swift than the sinking of a provincial estate.

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2025-11-30 14:22