Hype Around Hyperliquid Unlocks as Price Drops 3.5%

Hyperliquid (HYPE) has seen a 3.5% drop in price over the last 24 hours, reaching $82 from its recent peak of $86.

This decline is viewed as a normal pullback following a sharp rally to new all-time highs, rather than a reaction to a new negative event.

The upcoming August 29 unlock of approximately 14.2 million HYPE tokens is seen as the primary near-term catalyst influencing sentiment and contributing to volatility.

This event is considered a short-term supply overhang, which may cause profit-taking by early investors who are deeply in the money.