BitMEX co-founder Arthur Hayes said Hyperliquid’s $314 million unlock brings unavoidable sell pressure, and insider assurances can’t remove uncertainty.
A $314 million Hyperliquid token unlock scheduled for Saturday puts the perpetuals decentralized exchange (DEX) under its most significant tokenomics spotlight yet, as one community member calls for clearer communication on how the core contributor unlock will be managed.
Tokenomist data shows that on Saturday, Hyperliquid will release 9.92 million HYPE tokens, which is 2.66% of the supply. The tokens are worth about $314 million at the time of writing. The HYPE allocation will be released in a “cliff unlock,” which means they will be released all at once.
The unlock ignited public conversations among holders, including an open letter from an X user named Andy, who urged the team to address the community before the tokens are unlocked. At the time of writing, HYPE trades at $31, a 23% decline over the past month.
