Hyperliquid's $856M Token Release Set for October 6

Hyperliquid is set to release 9.92 million HYPE tokens on October 6, valued at approximately $856 million based on current market prices.

This represents about 1% of HYPE's total supply and is allocated to core contributors, but its impact is more significant when measured against the token's circulating supply, which stands near 222.45 million HYPE.

The upcoming distribution is equivalent to roughly 4.5% of the existing circulating supply, making it one of Hyperliquid's largest scheduled token releases of the year.

The release has caught traders' attention as October shapes up to be a major token unlock month, with around $1.3 billion worth of tokens set to unlock.