1.75M Hyperliquid tokens unlocked today, but was the price impacted?

The Hyperliquid development team clarified a 1.75 million HYPE token unlock for developers and core contributors, valued over $60.4 million, which occurred on Saturday as part of the vesting schedule. This unlock, which followed the anniversary of a massive airdrop, sparked community fears of selling pressure, leading to a slight market price decline of about 4.6% at the time of reporting. Hyperliquid developer iliensinc noted that there were no investor unlocks as the project never raised external capital. Market analyst Arthur Hayes suggested that token holders should anticipate a non-zero chance of daily selling pressure, which he believes the market has already priced in, evidenced by HYPE's 42% decline from its September all-time high. Hyperliquid remains praised for its strong revenue generation and operational efficiency despite its community-focused launch model.

(Source：Cointelegraph)