Hyperliquid Token Unlock Set to Boost Price to $150 Target

Hyperliquid is set to unlock $375 million in tokens on Monday, according to Arthur Hayes, co-founder of BitMEX. This represents 2.66% of its released supply.

The token unlock comes as Hyperliquid remains one of the most closely watched tokens among crypto traders, partly due to a bullish call from Hayes. Last month, he wrote that no other project in crypto hands as much money back to token holders as Hyperliquid.

Hayes also set a price target of $150 for HYPE by August this year, which is roughly four times its current price over $35. He argued that Hyperliquid's revenue growth from new permissionless trading markets and buyback model justify the high price target.