Hyperliquid Labs Says 180,000 HYPE Tokens to Be Unlocked Before Team Allocation on Nov. 6
JOON HYOUNG LEE
Summary
- Hyperliquid, a global decentralized exchange, said 180,000 HYPE tokens will be unlocked for the team allocation.
- A Hyperliquid Labs official said the actual distribution of those tokens will take place on Nov. 6.
- A token unlock can increase total supply and create short-term downward pressure on prices, but it does not necessarily lead to selling.
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Global decentralized exchange Hyperliquid will unlock 180,000 HYPE tokens.
A Hyperliquid Labs official said on Discord on Oct. 28 that 180,000 HYPE tokens earmarked for the team would be unlocked that day, according to BlockBeats. Hyperliquid Labs is the developer of Hyperliquid.
The actual distribution of those tokens will take place on Nov. 6.
Token unlocks can increase total supply and put short-term downward pressure on prices. But an unlock does not necessarily lead to selling.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul