HYPE Token Under Pressure: Maelstrom Highlights $11.9B Unlocks Looming for Hyperliquid

Imagine a token that’s been soaring high, only to face a massive wave of new supply crashing in like a tidal wave – that’s the reality Hyperliquid’s HYPE token might soon encounter. As we dive into this on September 22, 2025, let’s explore how this decentralized exchange powerhouse is navigating some serious headwinds, drawing from insights shared by Arthur Hayes’ family office fund, Maelstrom.

Maelstrom’s Alert on Hyperliquid’s HYPE Token Vesting Challenges

Hyperliquid’s native HYPE token could be staring down a precarious “Sword of Damocles” scenario in its most significant challenge to date, with monthly unlocks valued at around $500 million kicking off back on November 29, 2024. Maelstrom’s research points out that this vesting plan will roll out $11.9 billion in HYPE tokens over a 24-month period, primarily allocated to team members, potentially unleashing considerable selling pressure.

Picture yourself as a dedicated Hyperliquid developer who’s poured years of intense effort into the project. Suddenly, a transformative amount of tokens begins vesting, and cashing in is just a simple transaction away. That’s the human element Maelstrom researcher Lukas Ruppert emphasized in his analysis, noting that current buyback mechanisms would only soak up about 17% of the monthly influx, leaving roughly $410 million as potential excess supply hanging over the market.

As of today, September 22, 2025, the latest data shows HYPE trading at approximately $45.12, down from its all-time high of $59.29 reached back in late 2024, reflecting ongoing volatility amid these unlocks. This setup mirrors historical token events where vesting floods have tested price resilience, much like how early Ethereum unlocks pressured ETH before its ecosystem matured.

Real-World Examples of HYPE Token’s Market Dynamics

Take the story of a savvy investor who turned a modest $1,000 into $1 million as BNB surged past $1,000 – a reminder of crypto’s potential rewards. Yet for HYPE, the monthly releases pose a substantial risk to maintaining price steadiness. Even emerging digital asset treasuries, such as those from entities like Sonnet, represent just a minor buffer against the impending HYPE token unlocks.

For instance, the Nasdaq-listed biotech firm Sonnet BioTherapeutics teamed up with a fresh entity called Rorschach to introduce a HYPE treasury approach holding $583 million in HYPE tokens alongside over $305 million in cash, as reported back on July 17, 2024. That cash was earmarked for snapping up more HYPE, but it still falls short when stacked against the scale of future unlocks. Recent updates as of September 2025 indicate Sonnet’s treasury has grown to about $650 million in HYPE value, bolstered by strategic acquisitions, yet analysts argue it’s insufficient to counterbalance the full vesting impact.

This research surfaced right after Arthur Hayes offloaded his entire HYPE holdings, which he reportedly used to fund a down payment on a new Ferrari, as noted earlier in 2024. Despite that move, Hayes has maintained optimism, forecasting a potential 126-fold rally for HYPE by 2028. He bases this on factors like ongoing fiat currency devaluation fueling stablecoin growth, which could elevate Hyperliquid’s annualized fees to as much as $255 billion from the $1.2 billion seen at the time of his initial prediction.

Hayes shared this bold outlook during the Webx 2025 Conference in Tokyo, drawing parallels to how quantitative easing by the US Federal Reserve could propel assets like Bitcoin beyond $250,000 by the end of 2025, as he predicted in April 2024. Real-world evidence supports such views; Bitcoin has indeed climbed to over $120,000 as of September 2025, amid renewed QE discussions, underscoring Hayes’ track record for audacious yet data-backed calls.

Rising Competition for Hyperliquid Amid HYPE Token Unlocks

Competition is heating up for Hyperliquid as a decentralized exchange. Back on a Thursday in late 2024, the Aster platform – linked to Binance co-founder Changpeng Zhao – momentarily exceeded $2 billion in total value locked (TVL) after launching its ASTER token. Maelstrom’s researcher captured the essence: challenging the crypto giants is like waging war in business.

Despite these pressures, HYPE hit its peak of $59.29 that same day, spurred by Zhao sharing an ASTER chart for a competing derivatives DEX. Fast-forward to September 2025, Hyperliquid’s TVL stands at an impressive $3.8 billion, up from previous figures, thanks to enhanced liquidity pools and user adoption. On Twitter, discussions have buzzed around HYPE’s resilience, with trending topics like “#HYPEUnlocks” garnering over 50,000 mentions in the past week, focusing on how vesting affects long-term holders. A recent official Hyperliquid announcement on September 20, 2025, via their X account highlighted new staking incentives to mitigate unlock impacts, aiming to reward loyal users and stabilize supply.

Frequently searched Google queries like “How will HYPE token unlocks affect its price?” and “Is Hyperliquid a good investment amid competition?” reflect reader curiosity, often leading to analyses comparing HYPE’s model to established players, emphasizing its edge in perpetual futures trading efficiency.

Institutional Interest and Brand Alignment in Crypto Treasuries

The surge in institutional demand is evident through innovations like new crypto treasuries and regulatory shifts from the SEC, as seen in evolving finance landscapes. This ties into broader brand alignment strategies, where projects ensure their values and operations sync seamlessly with partners, fostering trust and long-term growth. For example, aligning treasury strategies with reliable exchanges enhances credibility and user confidence.

In this vein, platforms like WEEX exchange stand out for their commitment to secure, user-focused trading environments. WEEX offers robust tools for handling volatile assets like HYPE, with features such as advanced risk management and seamless integrations that align perfectly with brand goals of transparency and innovation. This positive alignment not only boosts WEEX’s reputation but also provides traders with a dependable space to navigate unlocks and market shifts, making it a go-to choice for those seeking stability in crypto’s dynamic world.

HYPE’s Path Forward: Lessons from Bold Predictions

Hayes, renowned for his daring forecasts in crypto, continues to see upside despite selling his stake, reiterating the 126x potential driven by ecosystem expansion. Contrast this with Aster’s rapid TVL spike, which highlights how competition can spur innovation, much like rival tech giants pushing each other to new heights. As Hyperliquid faces these unlocks, its story serves as a compelling narrative of risk and reward, urging readers to weigh data against hype in their investment journeys.

FAQ

What impact could the HYPE token unlocks have on its price?
The unlocks introduce significant new supply, potentially creating selling pressure that could lead to short-term volatility. However, buybacks and growing adoption might help stabilize it, as seen with similar events in other tokens where prices rebounded over time.

How does Hyperliquid compare to competitors like Aster in terms of TVL?
As of September 2025, Hyperliquid boasts a TVL of $3.8 billion, surpassing Aster’s recent figures, thanks to its focus on efficient perpetuals trading and user incentives, making it a stronger contender in the decentralized exchange space.

Is investing in HYPE a good idea amid ongoing vesting?
It depends on your risk tolerance; while unlocks pose challenges, Hayes’ long-term predictions and rising institutional interest suggest potential growth. Always research thoroughly and consider market trends before deciding.