Ah, the Hyperliquid team-those valiant builders of the “leading perpetual DEX platform” (or so they claim)-have begun their grand sell-off spectacle. 🎭 Like rats fleeing a sinking ship, they’ve already dumped a cool $2.2 million worth of HYPE, leaving retail bagholders clutching their charts in despair. The first unlock on November 29th gifted them 1.745 million HYPE, and oh, how swiftly they parted with it! Only 235K HYPE was staked-because why lock up free money when you can cash out? 🤷♂️
609K HYPE vanished into the OTC abyss via Flowdesk, while 900K HYPE lounged lazily on the Spot market, waiting for the next sucker. And just when you thought the party was over, two team members casually tossed another 75K HYPE into the market blender. Cheers! 🍻 Meanwhile, one lone wolf staked 75K HYPE-probably by accident.
Monthly Unlocks: A Slow-Motion Car Crash 🚗💥
This was merely the first drop in a four-year waterfall of pain. Every month until October 2027, another 10 million HYPE will tumble into existence. The team’s allocations? Oh, they’re the main attraction-everyone’s betting on who dumps fastest. After all, why hold when you can sell and buy a yacht? 🛥️
Some team members might pretend to “strategize” (read: delay dumping), but let’s be real-these tokens are destined for the market’s hungry jaws. Delphi Digital’s Jason wisely muttered:
“I’ll wait and see how the market digests this unlock-or chokes on it. Maybe protocol revenue will magically absorb the selling pressure. Or maybe pigs will fly. 🐷✈️”
News of the latest dump sent HYPE briefly below $30-a 17% nosedive from its weekly high of $36. Will the $25-$28 support zone hold? Or will it crumble like the promises of a politician? 🗳️
Sentiment? More Like Sentimental Wreckage 🏚️
Funding Rates slumped mid-week, confirming that traders have flipped bearish-shocking, right? But wait! A glimmer of hope: Hyperliquid Strategies and Sonnet merged, potentially creating new demand. Or maybe it’s just another corporate buzzword salad. 🥗
The buyback program? A feeble attempt at damage control. In the last 24 hours, Hyperliquid bought back 21,700 HYPE-only for stakers to emit 26.7K HYPE, flooding the market with inflationary tokens. Net result? More HYPE, more problems. 🤡
Final Thoughts (Or Just Final Dumps?)
- The Hyperliquid team treats HYPE like Monopoly money-sell, sell, sell! 🎲
- Buybacks? More like rearranging deck chairs on the Titanic. 🚢
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2025-12-08 07:09