Hyperliquid is set to execute a major token unlock event on November 29, 2023, which could have significant implications for the HYPE token market, as analysts warn in the report.
Distribution of HYPE Tokens
On this date, around 992 million HYPE tokens will be distributed to core contributors, marking a release of approximately 3% of the current circulating supply.
Market Analysis
Analysts are closely monitoring this event as the influx of new tokens may lead to bearish pressure on HYPE prices. The market's reaction to this substantial increase in supply remains uncertain.
Investor Considerations
Many investors are weighing the potential risks and rewards associated with the upcoming unlock.
As Hyperliquid prepares for its significant token unlock event, the cryptocurrency community is also focused on the upcoming launch of the Jesse token by Jesse Pollack. For more details, see Jesse token launch.
