At current prices, the release is worth more than sixty million dollars. The news drew quick attention across the crypto market, but the project stressed that the unlock followed its preset schedule and had been shared with the community ahead of time.
A core developer known as iliensinc explained that these tokens are part of ongoing rewards for the people building the protocol. Hyperliquid also reminded users that it never raised outside funding, which means there are no investor unlocks waiting in the background.
Why This Unlock Matters for the Market
Token unlocks can sometimes worry traders because they bring new supply into the market. When that supply comes from early investors, it can create selling pressure if they decide to take profits. Hyperliquid avoids this issue because it does not have venture backers. Every token currently unlocking goes to contributors who helped build the system. The team said these releases are designed to support long-term development rather than short-term trading.
The Hyperliquid team confirmed that 1.75 million HYPE tokens were unlocked on Saturday for developers and core contributors, worth over $60.4 million at current prices. According to Hyperliquid developer iliensinc, the unlock is part of the project’s predefined vesting schedule… pic.twitter.com/SLd346io08
— Wu Blockchain (@WuBlockchain) November 30, 2025
This weekend’s unlock is also small when compared with one of the project’s earlier milestones. On November 29th, the network fully unlocked about two hundred seventy million tokens. At today’s value, that earlier event equals roughly 9.5 billion dollars. The market absorbed that release without major disruption, a fact supporters see as evidence of a strong and active user base.
Hyperliquid TGE Unlock and What Actually Happened
The first major unlock just passed. Here’s how tokens were distributed and what team members did with it.
Distribution
• Largest wallet (Founder-tier): 170,619 HYPE
• Senior-tier (14 wallets): 1,049,986 HYPE
• Mid-tier (2… pic.twitter.com/2zw4aSsWNH— kirbycrypto.hl 🌊🏄♂️ (@kirbyongeo) November 29, 2025
A real example from the broader crypto world shows why these details matter. Hyperliquid’s approach aims to avoid similar shocks by following a clear schedule that focuses on builders rather than outside funds.
According to HypurrScan, the Hyperliquid team address 0x43…a251 transferred 2.6m HYPE (~$90.18m) from Staking to Spot today at 12:32 UTC+8. Currently, this team address 0x43…a251 still holds 240m staked HYPE (~$8.36 billion). https://t.co/Tnt0p0mHAjpic.twitter.com/q1u3Q0V803
— Wu Blockchain (@WuBlockchain) November 29, 2025
More About Hyperliquid
Hyperliquid EVM just crossed a major growth milestone with more than one million unique addresses now created on the network. The latest snapshot shows strong activity across the board, with over one million cumulative unique addresses, more than 459k daily transactions, and more than 23k daily active addresses.
🚨 Hyperliquid EVM has officially surpassed 1,000,000 Unique Addresses.
Key metrics from the latest snapshot:
▫️ 1.00M+ Cumulative Unique Addresses
▫️ 459K+ Daily Transactions
▫️ 23K+ Daily Active AddressesTransparency made by @routescan_iopic.twitter.com/dhj8VwhqBr
— Routescan | The Unified Explorer (@routescan_io) November 21, 2025
These numbers highlight rising user demand and steady engagement, suggesting that the network is becoming a busier hub for builders and traders who want fast execution and a familiar EVM environment.