Hyperliquid Hits Record High as $1.2 Billion Token Unlock Looms
Hyperliquid’s HYPE token has surged to near record highs, reaching $83.27 before easing to about $77.50, with a market cap around $19.5 billion. That rally is facing a major monthly token unlock on August 29, the largest since launch. The release will distribute about 46.6% to insiders, 46.3% to the community, and 7% to the Hyper Foundation, adding roughly $560 million of insider-facing supply to the market. Prior unlocks produced mixed short-term price moves, including declines in May and July and a small gain in June. Beyond the token action, Hyperliquid gained attention from Coinbase integrating 50x perpetual futures via its infrastructure, and from Donald Trump publicly referencing the protocol as the CFTC works toward bringing it into the U.S. in a compliant way. A similarly sized unlock is scheduled for September 29.
