Hyperliquid’s native token may face a “sword of damocles” moment in its biggest test, with a $ 500 million worth of monthly unlock set to begin November 29, according to research from Bitmex co-founder Arthur Hayes’ Family Office Fund, Maelstrom.
The hyperliquid (Hype) Token will face “first real trial” on November 29, when the 24-month vesting schedule begins, Maelstrom Says on Monday.
The vesting schedule will share $ 11.9 billion worth of hyperliquid (hype) tokens within 24 months for team members, creating the said analysts that can be significant sales pressure. Current purchases only absorb almost 17% of that monthly supply, leaving nearly $ 410 million in potential overhang, Maelstrom researcher Lukas Ruppert said.
“Put yourself in the shoes of a Hyperliquid Dev. You have worked in vain for many years. A life -changing life in the tokens begins with the vest; and just a click it,” Ruppert wrote.
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The monthly discharge represents a major risk for hyperliquid price stability. Even the growing number of digital asset treasury (dats) such as Sonnet is “just a drop in the bucket compared to the upcoming unlocked hype,” Ruppert said.
NASDAQ listed in Biotech Company Sonnet Biotherapeutics has cooperated with a newly created entity, Rorschach, to launch A Strategy to the treasury of hype With $ 583 million in hype tokens and over $ 305 million cash, Cointelegraph reported on July 17.
$ 305 million cash will also be used to obtain more hype tokens, which is still placed in comparison to future token unlocking
Research has been published after a while Hayes sold all His hype tokens, which seemed to use to pay the deposit for a new Ferrari, Cointelegraph reported earlier on Monday.
Hayes had previously predicted the token could rally 126-fold of 2028, but identified the upcoming vesting phase could trigger volatility.
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Hyperliquid sees a growing competition from Aster
The competition has also intensified Decentralized exchange Hyperliquid.
On Thursday, Binance co-founder Changpeng Zhao-Link decentralized Perpetuals Exchange Aster crossed briefly $ 2 billion in total amount locked (TVL), Following The launch of the Aster (APX) token of the project, Cointelegraph reported.
“You didn’t eat crypto establishment lunch and walked away. Business was war,” Maelstrom’s researcher said.
“CZ is driving aster two months before unlocking? Probably not a chance.”
The Hype token Rose To a new all-time high of $ 59.29 on Thursday, time after Zhao Posting a chart for Aster, the native token of a rival derivatives Dex.
Despite Hayes selling all his hype holdings, he still sees the possibility for a 126-fold rally By 2028 he wrote on a Monday x Post.
Hayes initially predicted a 126x surge for the Hype token during the WebX 2025 conference in Tokyo, which is urged by the Fiat’s continued seizure of bringing an annual Stablecoin fee, pushing the annual Hyperliquid fee higher at $ 255 billion, from the annual income of $ 1.2 billion in time.
Hayes is well known in the crypto space for his upcoming price predictions.
In April, Hayes predicted Bitcoin (Btc) will exceed $ 250,000 before the end of 2025 if the US Federal Reserve has spoken to Volume easing (qe). Which is when the Fed buys bonds and bombs economically money to lower interest rates and encourage spending during difficult financial conditions.
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