Hyperliquid released 9.92 million HYPE tokens from its vesting contract on September 6, 2026. Priced at $82.60 during the unlock, the theoretical value of the newly circulating supply reached $820 million.
HYPE prices resisted downward pressure despite looming sell-off concerns. The crypto asset held steady around the $86 level on the same day, trading less than 2% below its all-time high of $88.06.
The same narrative plays out on social media with every scheduled unlock: panic erupts, sell alerts flood feeds, the anticipated wave of sellers never materializes, and prices quickly rebound. On-chain data from a similarly sized unlock in March 2026 provides clarity. Over the first 30 days post-unlock, only 1.75% of the newly unlocked tokens were actually transferred to exchange deposit addresses.
Vesting recipients are not day traders looking for quick profits. They consist of core contributors, ecosystem participants, and early team members who have spent years building Hyperliquid’s infrastructure.
A Relentless Automated Buy Engine
The network’s Assistance Fund mechanism consistently buys HYPE on the open market at roughly $1 million per day, equivalent to $30 million per month. This non-stop automated buyback operated at full capacity throughout the token unlock.
Hyperliquid directs 97% to 99% of eligible protocol fees to the Assistance Fund for buybacks, while incoming priority fees are burned directly.
In the 24 hours ending September 6, Hyperliquid also burned 9,730 HYPE worth $829,500, purchased at an average price of $85.27 per coin. Total supply permanently removed from circulation now stands at 48.42 million tokens. That represents 4.84% of the maximum 1 billion token supply, valued at over $4.14 billion at current market prices.
Institutional Inflows Continue to Grow
Asset manager Bitwise previously added $10.5 million worth of HYPE to its holdings, lifting its total accumulated position in the asset to $166.3 million.
The headline $820 million figure may seem daunting. However, with an internal buy engine absorbing supply daily and core contributors reluctant to dump tokens onto exchanges, this unlock essentially just transferred coin ownership from smart contracts into cold storage wallets.
Reported via crypto.news.
Read also: What Is DeFi (Decentralized Finance)?
Previously: Bitwise Buys $10.5M in HYPE After 4-Day Pause - Total Holdings Cross $166.3M
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
