HYPE Hits $83 ATH as $1.2B August 29 Unlock Shock Looms—10% Correction Risk

Hyperliquid's HYPE token has soared to a record $83.27 before retreating to $77.50, but the rally faces a critical test as a massive 14.17 million token unlock worth $1.2 billion is set to hit the market on August 29. Analysts warn the supply influx could trigger a 10% correction in the coming days, putting pressure on bulls as the event approaches.

In brief

• HYPE reached a historic record of 83.27 dollars.
• 14.17 million tokens will be unlocked on August 29.
• Nearly 47% of the released tokens must return to the first investors.

The HYPE crypto breaks its record before August 29

Hyperliquid is benefiting from a rather favorable period. A few days earlier, HYPE had already jumped 11% after statements from Donald Trump. The movement continued. The HYPE crypto reached 83.27 dollars on Sunday before falling back below 80 dollars. Its capitalization now hovers around 19.5 billion. The next event arrives Friday, August 29.

Hyperliquid must then release 14,175,778 tokens according to its issuance schedule. At the current price, the batch weighs about 1.2 billion dollars. This represents 1.4% of the total HYPE crypto supply. And about 2.7% of its current capitalization.

Hyperliquid has been performing this type of release every month since the token’s launch in November 2024. The August one is among the largest remaining on the schedule. The price therefore arrives at the meeting on a record. Not empty-handed.

Nearly 560 million dollars will go to insiders

All HYPE tokens released on Friday will not take the same direction. The first investors of the Hype crypto and contributors must recover 46.6% of the batch. About 560 million dollars at current prices.

The community will receive 46.3%. The remaining 7% will go to the Hyper Foundation. It is especially the first part that traders watch. Early investors generally have an acquisition price well below the current price and can choose to take some of their profits.

This does not mean they will sell. Previous releases did not produce the same result. After the May release, the HYPE crypto lost 14.1% in the following days. June had given an increase of about 1%. In July, the token retreated by 7%.

Three unlocks. Three different reactions. Hyperliquid also arrives with more activity than at the beginning of the year. JPMorgan recently highlighted the protocol’s growth while warning of increasing competition around it. The market will now have to absorb a new tranche.

Hyperliquid arrives with several good news

The record of the HYPE crypto is not only from the chart. Coinbase integrated this month perpetual contracts with leverage up to 50x in its Base app using Hyperliquid’s infrastructure.

Donald Trump also spoke directly about the protocol. The American president indicated that the CFTC is working on a solution allowing Hyperliquid to enter the United States in regulatory compliance.

For now, the platform remains inaccessible to American users. No authorization has been announced yet. The mere fact that the topic has reached the White House was enough to push HYPE upward. A few months earlier, Bitwise had already presented HYPE as one of the most undervalued crypto assets on the market.

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