Hyperliquid will unlock $308 million of HYPE on November 29th, representing 2.66% of the circulating supply.

According to Tokenomist, Hyperliquid's first token unlock is scheduled for 3:30 PM Beijing time on November 29th, unlocking an estimated $308 million worth of $HYPE tokens, representing 2.66% of the circulating supply. This is the first unlock since the Teleport Execution (TGE) in November 2024. According to the official Medium post, core contributor tokens are locked for one year after the TGE, with most vesting to be completed between 2027 and 2028.

Meanwhile, @mlmonchain discovered that the team unstaking 2.6 million $HYPE tokens (worth approximately $85.8 million) about 29 hours ago, but has not yet released an official statement regarding the unlocking process. It should be noted that unstaking is not the same as selling, but market sentiment has already shown signs of panic and bearishness.