Hyperliquid HYPE Token Faces $1.2B Selling Pressure Ahead of Unlock

Hyperliquid's HYPE token has reached a record high of US$83.27, but is now facing potential selling pressure from an upcoming token unlock worth over $1.2 billion on August 29th.

The scheduled unlock will release 14,175,778 HYPE tokens, equivalent to 1.4% of the total supply and 2.7% of market capitalization.

Insiders are set to receive a significant portion of the unlocked tokens, with 46.6% going their way, while the community will get 46.3% and the Hyper Foundation receives 7%.