The Hyperliquid development team provided clarity on Saturday's token unlock in response to community fears of increased selling pressure.
The team behind the Hyperliquid decentralized exchange (DEX) disclosed a 1.75 million HYPE token unlock for its developers and core contributors on Saturday, valued at over $60.4 million at the time of this writing.
Saturday’s token unlock was previously announced and is part of HYPE’s vesting schedule, according to pseudonymous Hyperliquid developer iliensinc, who celebrated the first anniversary of Hyperliquid’s historic airdrop and token generation event. He said:
The unlock sparked fear about potential selling pressure that could impact HYPE’s market price, which declined by about 4.6% at the time of this writing.
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