The Hayes family office has issued a warning regarding the upcoming unlocking of Hyperliquid's HYPE tokens, set to begin on November 29. Over the next 24 months, 237.8 million HYPE tokens will be unlocked linearly, potentially valued at $11.9 billion at a rate of $50 per token. Monthly unlocks could reach $500 million, but current buyback strategies are expected to absorb only 17% of the sell pressure, leaving a significant $410 million monthly oversupply. Despite Hyperliquid's recent achievements, including record trading volumes and a competitive bid for USDH, the unlocking event poses a challenge to market stability. The Sonnet DAT has raised $583 million in HYPE tokens and $305 million in cash, yet this remains insufficient to counteract the unlocking pressure. Additionally, competition is heating up with new players like Lighter.xyz and initiatives from major exchanges such as Binance's Aster project.
Hayes Family Office Warns of Hyperliquid's HYPE Token Unlocking Impact
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