HyperLiquid Team Analyzes $90 Million HYPE Unstaking
TL;DR
No sign of a major sell-off . The team unstaked 2.6 million HYPE (approximately $90.18 million) on November 29, 2025, but subsequent trading has been limited to small amounts at the functional test level. 241 billion HYPE (approximately $8.33 billion) remains staked, and technical indicators also indicate buying pressure.
Core Analysis
Unstaking Event Details
On November 29, 2025, at 04:32 UTC , the HyperLiquid team wallet (0x43...a251) moved 2.6 million HYPE (approximately $90.18 million) from staking to spot accounts. chaincatcher
Subsequent trading activity :
- Test sell just 1 HYPE (approximately $34.55)
- Multiple small transfers (170,619 HYPE, 74,999 HYPE, etc.)
- No large deposits to the exchange were confirmed
- 854,253 HYPE re-staking also carried out
Holdings and Tokenomics
| item | quantity | Value (USD) | ratio |
|---|---|---|---|
| Staking HYPE | ~241 million | $8.33 billion | 99.7% |
| Spot HYPE | slight | $8,238 | 0.3% |
| Total Value | - | $8.33 billion | 100% |
Vesting Schedule :
- Core contributors' 238M HYPE will vest primarily in 2027-2028 after one-year lock-in
- Monthly unlock volume is lower than expected (~9.9M HYPE vs. expected 31.5M HYPE)
Social Sentiment Analysis
Community response :
- Trust based on team past behavior is dominant
- Expectations for a revenue buyback mechanism
- Some concerns about lack of transparency
Influencer's take :
- Arthur Hayes : notes ongoing uncertainty but does not raise major concerns x.com
- Smart Drop Farmer : Evaluate your team's execution with balanced analysisx.com
- 0xOmnia : Praises team for its integrity, supports flexible token management x.com
technical analysis
Price Trends (as of November 29, 2025):
- Hourly : RSI 60.61, MACD reversal indicates bullish signal
- 4-hour : Moving above the major moving averages, sustained buying pressure
- Daily : Neutral but early signs of bullish divergence
Derivatives Market :
- Open Interest: $1.525 billion (+9.47% in 24 hours)
- Long Funding Rate: Positive across all exchanges
- Short position liquidation: $8.69 million vs. long liquidation: $500,000
conclusion
There are very few signs of a selloff . The $90 million worth of unstaked HYPE is likely preparation for feature testing and ecosystem support rather than a large-scale selloff. The team still has $83 billion worth staked, and market data also indicates an accumulation pattern. Instead, the market is reacting bullishly due to increased open interest and high short liquidations.