An inflationary event is coming for the cryptocurrency ecosystem. The market will be flooded with Hyperliquid tokens (Hype), which will be released after being blocked on a staking platform.
In total, 1 million tokens hype, valued at USD 40 million, They will unlock Before the launch of Kinetiq, a liquid staking protocol that will operate on Hyperevm, Hyperliquid layer 1 network.
The figure to be released represents 0.29% of the hype tokens that are currently in circulationwhich are more than 333.9 million cryptocurrencies.
Three wallets that concentrate more than 847,000 hype, equivalent to about 33.5 million dollars, have already started the Staking Retirement process, according to the data ON-CHAIN.
Kinetiq reported that the launch date of the platform in Hyperliquid was announced in advance To allow users to complete the seven -day unlock period.
This protocol will disperse the Hype stationed among multiple validators, using an autonomous Stake score and distribution system. In return, Users will receive the Token Khype as a deposit testwhich will allow to keep liquidity while their assets are in staking.
After the confirmation of the launch date of Kinetiq, Hype reacted with an increase of 2.87%, reaching the USD 39.47, as can be seen in this Coinmarketcap graph.
The slight bullish impulse suggests that, for now, The market interprets this launch as a positive development For the Hyperliquid ecosystem.
However, it is feasible that there is a sales pressure derived from the massive release of tokens, which could represent a turning point if the demand does not support the rhythm of the supply.
For now, Hype whales keep buying. The data In Cadena they reveal that four Wallets deposited USD 6.14 million in USD Coin (USDC) to Hyperliquid to buy Hype cryptocurrency.
Currently, Hype occupies the number 11 among cryptocurrencies with greater capitalization. In addition, the Hyperliquid platform has converted in the main platform of decentralized derivatives. In the last 24 hours, it has registered a volume of more than 5.2 billion dollars and exceeds 216,000 million in the last month.
Hype’s growth has also captured institutional interest. As Cryptonoticias reported, the company Lion Group Holdings borrowed with 600 million dollars to acquire Hype positions, in addition to Solana (Sun) and SUI (SUI), as part of a strategy to turn these assets into corporate value reserves.
