New HYPE Tokens Reach Wallets Ahead of December Release

TLDR:

• HYPE sees new supply enter circulation as the first team unlock moves tokens to 29 wallets.
• Fresh distributions include OTC transfers and restaking activity that shape short-term market flows.
• Another 9.92M HYPE unlock arrives on December 29, matching the size of the first release.
• HYPE trades near $35 as traders balance rising supply with strong 24-hour liquidity.

HYPE traders are watching fresh on-chain activity after the first major team unlock moved into circulation. Market sentiment turned cautious as newly released tokens reached several wallets and some holders shifted funds to an OTC desk. 

The price of Hyperliquid (HYPE) traded near the mid-$30 range during the distribution, according to data from CoinGecko. Expectations around the next unlock have added pressure as the market absorbs the latest supply changes.

HYPE Team Unlocks Hit the Market

The process began when the team unstacked 2.6 million HYPE on November 22, which became claimable on November 29. 

Hyperliquid News reported that 1,745,746 HYPE moved to 29 new wallets during the initial distribution. Ten of these wallets sent 609,100 HYPE to Flowdesk, suggesting possible OTC activity. Four wallets restaked 234,600 HYPE, while fifteen wallets kept their 902,000 HYPE untouched.

The team wallet also restaked 854,254 HYPE, based on the same source. These early movements offered the first clear view of how team-controlled supply will behave as scheduled releases continue. 

Market participants followed the distribution closely while tracking price action. The token traded at $34.86 with strong 24-hour volume above $349 million, according to CoinGecko.

This early unlock arrived days after a steep move from the recent peak. Crypto Patel noted that HYPE dropped from the $48–$50 area to $29 during the broader correction. 

His post also pointed out that price action aligned with a planned short setup. The pullback formed the backdrop for the latest distribution hitting the market.

Market Watches December Unlock as Pressure Builds

The first unlock represented 9.92 million HYPE entering circulation, which Crypto Patel described as 2.66 percent of supply. He noted that the next unlock scheduled for December 29 mirrors the same 9.92 million amount. 

Combined with monthly releases through October 2027, the market expects consistent supply additions. These figures shaped discussions about ongoing sell pressure as new tokens become available.

HYPE’s weekly performance showed a 7.20 percent gain despite the recent decline. 

The market balanced strong trading volume with concerns about repeated unlocks. Traders monitored wallet flows after the distribution and looked for signs of further OTC activity. 

With fresh tokens circulating, sentiment remained centered on how upcoming releases could influence liquidity.

The latest on-chain movements provided a clear view of how team holdings transition into the market. Distribution patterns, restaking decisions, and OTC transfers shaped short-term positioning. The next unlock now anchors attention as traders evaluate supply trends. 

Price action around the mid-$30 range reflected the market’s ongoing reaction to these developments.

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