Everyone's talking about a $900M HYPE unlock on Thursday. The real number looks a lot smaller
If you've been on crypto Twitter or Square this week, you've probably seen it: "$900M+ $HYPE
unlock on Nov 6."
Here's what I found when I looked closer.
On paper, about 9.92M HYPE is scheduled for core contributors on Nov 6. That's where the big dollar headlines come from.
But the Hyperliquid team said on Discord that it will actually distribute 180,000 HYPE to team members on Nov 6. At around $86, that's roughly $15.6M. Not $900M.
And this isn't new. In October, the schedule also said 9.92M, but only about 3.75M HYPE actually moved.
Also today: US regulators (the CFTC) approved perpetual futures on individual stocks. Hyperliquid already runs the biggest on-chain perps market for stocks like Apple, Nvidia and Tesla, so this one is directly relevant.
To be clear, I'm not saying where the price goes. Tokens being unlocked also doesn't mean they get sold. I just think "$900M unlock" without context is pretty misleading.
Did you see the $900M headline and assume the worst?
$BTC
#Hyperliquid #TokenUnlock #CryptoNews #Write2Earn
If you've been on crypto Twitter or Square this week, you've probably seen it: "$900M+ $HYPE
unlock on Nov 6."
Here's what I found when I looked closer.
On paper, about 9.92M HYPE is scheduled for core contributors on Nov 6. That's where the big dollar headlines come from.
But the Hyperliquid team said on Discord that it will actually distribute 180,000 HYPE to team members on Nov 6. At around $86, that's roughly $15.6M. Not $900M.
And this isn't new. In October, the schedule also said 9.92M, but only about 3.75M HYPE actually moved.
Also today: US regulators (the CFTC) approved perpetual futures on individual stocks. Hyperliquid already runs the biggest on-chain perps market for stocks like Apple, Nvidia and Tesla, so this one is directly relevant.
To be clear, I'm not saying where the price goes. Tokens being unlocked also doesn't mean they get sold. I just think "$900M unlock" without context is pretty misleading.
Did you see the $900M headline and assume the worst?
$BTC
#Hyperliquid #TokenUnlock #CryptoNews #Write2Earn