Hyperliquid Labs is about to conduct its first HYPE distribution, with 1.2 million tokens already unstaking.

According to Odaily Planet Daily, Hyperliquid Labs is about to conduct its first round of HYPE token distribution. Approximately 1.2 million HYPE tokens (worth about $31.2 million) have been unstaking and will be distributed to team members on January 6.

HYPE officially launched via community airdrop in November 2024. Approximately 23.8% of the total supply was reserved for core contributors, with these tokens to be unlocked gradually. The total supply of HYPE is capped at 1 billion tokens. Currently, approximately 238.4 million HYPE tokens are in circulation. HYPE is currently trading at approximately $26, with a market capitalization of $6.2 billion and a fully diluted market capitalization of $25.1 billion. Over 61% of HYPE tokens remain locked.