Hyperliquid's HYPE token (CRYPTO: $HYPE) pushed to a new all-time high of $83.27 over the weekend, extending its 2026 rally just days before a $1.2 billion token unlock puts fresh supply into the market.
HYPE reached the record on Sunday before pulling back toward $77.50, leaving the token with a market capitalization near $19.5 billion. The Aug. 29 unlock will release 14.18 million HYPE, equal to about 1.4% of total supply and 2.7% of the token's market value.
Nearly half of that release is headed to insiders. Early investors are set to receive 46.6% of the unlocked tokens, while 46.3% goes to the community and 7% to the Hyper Foundation. At current prices, the insider allocation is worth roughly $560 million.
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Hyperliquid has followed a monthly unlock schedule since its November 2024 launch, but recent releases have produced mixed price reactions. HYPE fell 7% after the July unlock, gained 1% following June's release and dropped 14.1% after the May event.
The latest supply increase arrives during another strong stretch for the decentralized perpetual futures exchange. Coinbase (NASDAQ: $COIN) added up to 50x perpetual futures to its Base app through Hyperliquid infrastructure this month, extending the protocol's reach into a larger consumer trading platform.
Regulatory attention has also shifted. President Donald Trump said last week that the Commodity Futures Trading Commission is working to bring Hyperliquid into the United States "in a fully compliant and legal fashion," giving traders another catalyst as the exchange remains unavailable to U.S. users.
HYPE has already moved well beyond the $67 record it set in late May and the $76 level reached in June, while Hyperliquid continues expanding beyond crypto-native perpetuals.
The Aug. 29 unlock now puts that momentum against a sizable new supply event, with another release of the same size scheduled for Sept. 29.
Hyperliquid (CRYPTO: HYPE) is trading at $78.00 U.S. per digital token.