As Hyperliquid’s token reaches a historic high, a token unlock worth $1.2 billion is nearing. Strong price momentum and the expectation of increased circulating supply are both emerging, causing the market to weigh both the current heat and potential supply pressure. The prior all-time high can prove that demand is strong now, but it cannot eliminate the risk of volatility after the unlock. The key will be the strength of subsequent absorption—more than the record itself. $HYPE #HYPE #crypto