jakiro
Note: BitMEX founder Arthur Hayes sold 96,628 HYPEs (worth $5.1 million) they bought a month ago last night.In his speech at the WebX Summit on August 25, he predicted that HYPE will increase by 126 times.Just now, Arthur Hayes forwarded a research report from his home office Maelstrom, explaining why HYPE was sold.Compilation: bitchain vision.
Hyperliquid is experiencing epic development—its ecosystem booming, trading volume hits record highs, and the USDH bidding war has become one of the hottest beauty pageants in cryptocurrency history.
However, with the crown falling, the sword of Damocles follows: HYPE is about to face a real test.
Starting from November 29, 237.8 million HYPE tokens will be unlocked linearly within 24 months.At $50 per token, the team unlocks as much as $11.9 billion, and nearly $500 million of nominal amounts will flow into the market every month.
what is the problem?The current repurchase level can only absorb about 17% of the funds.This means a monthly oversupply of $410 million.Has the market digested the scale of these unlocks?
The following picture comes from Maelstrom researcher Lukas Ruppert:
Suppose you are a Hyperliquid developer.You have worked hard for years.A token that can change your life is about to arrive; and it is available in just one click.what will you do?
Can DAT save the situation?
Sonnet is one of the largest cryptocurrency DATs ever, and is expected to be completed in the fourth quarter of 2025.It has raised about $583 million in HYPE tokens and $305 million in cash.
However, even Sonnet plus other smaller HYPE DATs combined, it is just a drop in the ocean compared to the soon-to-be unlocked HYPE.
When the shark smells bloody
You can’t eat lunch from the cryptocurrency giant and leave without any challenge.Business is war, and most cryptocurrency products have historically short half-life—winners will attract a large group of “vampire” attacks.
Competition is intensifying, with competition from front-tier exchanges and new competitors like lighter.xyz (Maelstrom portfolio company).CZ launches Aster two months ahead of schedule?This may not be a coincidence.
The game begins!
