Crucial HYPE Token Faces Pressure: $11.9 Billion Hyperliquid Unlocks Loom

The cryptocurrency market often presents unforeseen challenges, and a critical development now looms for the **HYPE token**. Specifically, investors and enthusiasts are watching Hyperliquid’s native token as it approaches a significant **crypto vesting schedule**. This event could introduce substantial selling pressure into the market, as recently highlighted by Arthur Hayes’ Maelstrom Fund. Therefore, understanding the implications of these upcoming unlocks becomes paramount for anyone involved in decentralized finance.

Maelstrom Warning: The Impending Hyperliquid Unlocks

Maelstrom, the family office fund of BitMEX co-founder Arthur Hayes, has issued a notable **Maelstrom warning** regarding Hyperliquid’s native token. Researchers suggest the **HYPE token** faces its most significant test yet. A “Sword of Damocles” moment approaches, with $500 million worth of monthly unlocks set to begin on November 29. This event marks the start of a 24-month vesting schedule, a crucial period for the token’s stability. Maelstrom’s analysis indicates this schedule will distribute a staggering $11.9 billion worth of Hyperliquid (HYPE) tokens over two years. Team members are the primary recipients of these tokens. Consequently, this massive influx could create considerable selling pressure in the market.

The sheer volume of these unlocks presents a significant challenge. Current buyback mechanisms would only absorb about 17% of the anticipated monthly supply. This leaves an estimated $410 million in potential overhang each month, as noted by Maelstrom researcher Lukas Ruppert. He articulates the dilemma faced by Hyperliquid developers: “Put yourself in the shoes of a Hyperliquid dev. You’ve worked insanely hard for years. A life changing sum in tokens is starting to vest; and it’s only one click away.” This perspective underscores the strong incentive for early token holders to monetize their vested assets, potentially impacting the token’s price stability.

Arthur Hayes’ Influence and Recent Actions on HYPE Token

Arthur Hayes, a prominent figure in the crypto space, has a history of bold predictions and influential market commentary. His recent actions concerning the **HYPE token** have certainly drawn attention. Maelstrom’s research, published shortly after Hayes reportedly sold all his HYPE tokens, adds another layer to the narrative. Reports suggest Hayes used the proceeds from his HYPE sale to pay the deposit for a new Ferrari, a Ferrari 849 Testarossa valued at up to $590,000. This move came despite his earlier, highly optimistic prediction that the token could rally 126-fold by 2028. Hayes acknowledged the upcoming vesting phase could trigger volatility, demonstrating his awareness of the inherent risks.

Hayes initially predicted a substantial surge for the **HYPE token** during the Webx 2025 Conference in Tokyo. He projected a 126x rally, driven by continued fiat debasement. This debasement, he argued, would propel the stablecoin market, potentially pushing HyperLiquid’s annualized fees to an astonishing $255 billion, a sharp increase from its then-annualized revenue of $1.2 billion. Hayes is well-known for such ambitious forecasts. For instance, in April, he predicted Bitcoin (BTC) would surpass $250,000 before the end of 2025. This prediction hinged on the US Federal Reserve pivoting to quantitative easing (QE), a policy where the Fed buys bonds and injects money into the economy to lower interest rates and stimulate spending during challenging financial conditions.

The Impact of Hyperliquid Unlocks and Market Competition

The impending **Hyperliquid unlocks** represent a sizable risk for the platform’s price stability. Even the growing numbers of digital asset treasuries (DATs) offer limited protection. For example, Sonnet BioTherapeutics, a Nasdaq-listed biotech company, partnered with a new entity, Rorschach, to launch a HYPE treasury strategy. This strategy involved $583 million in HYPE tokens and over $305 million in cash. Crypto News Insights reported this development on July 17. The $305 million in cash was also earmarked for acquiring more HYPE tokens. However, Maelstrom researcher Lukas Ruppert suggests such efforts are merely “a drop in the bucket compared against impending HYPE unlocks.” This highlights the sheer scale of the vesting event.

Moreover, competition is intensifying for decentralized exchange Hyperliquid. Binance co-founder Changpeng Zhao (CZ)-linked decentralized perpetuals exchange Aster recently made headlines. On Thursday, Aster briefly crossed $2 billion in total value locked (TVL) following the launch of its Aster (APX) token. Crypto News Insights reported this significant milestone. Maelstrom’s researcher commented on the competitive landscape: “You don’t eat the crypto establishment’s lunch and walk away unchallenged. Business is war.” The researcher further speculated, “CZ pushing Aster two months before unlocks? Probably not a coincidence.” The **HYPE token** did rise to a new all-time high of $59.29 on Thursday, hours after Zhao posted a chart for ASTER, a rival derivatives DEX’s native token. Despite Hayes selling his holdings, he still maintains a possibility for a 126-fold rally by 2028, as stated in a Monday X post.

Navigating the Crypto Vesting Schedule Landscape

The upcoming **crypto vesting schedule** for Hyperliquid’s **HYPE token** is a critical event for market participants. Vesting schedules are common mechanisms in the cryptocurrency industry, designed to prevent immediate sell-offs by team members and early investors. They typically release tokens incrementally over a set period. While intended to align long-term incentives, large-scale unlocks can, at times, introduce significant selling pressure. This pressure occurs as recipients gain access to their tokens, potentially leading to increased supply on exchanges.

Investors must consider several factors when evaluating the impact of such unlocks:

• Supply Shock: A sudden increase in circulating supply without a corresponding rise in demand can depress prices.
• Developer Incentives: While developers are rewarded, the timing of unlocks can influence their decisions to sell.
• Market Sentiment: News of large unlocks often creates negative sentiment, even if the actual selling pressure is less than anticipated.
• Buyback Programs: Projects sometimes implement buyback programs to mitigate selling pressure, but their effectiveness depends on scale.

Ultimately, the market will closely watch how Hyperliquid manages this significant phase. The ability of the platform to maintain its value and growth trajectory amidst these unlocks will serve as a key indicator of its long-term resilience and the strength of its underlying ecosystem. The coming months will undoubtedly test the **HYPE token** and the broader Hyperliquid community.