According to Odaily Odaily, Hyperliquid Labs is about to conduct its first round of HYPE token distribution. Approximately 1.2 million HYPE tokens (worth about $31.2 million) have been unstaking and will be distributed to team members on January 6.
HYPE officially launched via community airdrop in November 2024. Approximately 23.8% of the total supply was reserved for core contributors, with these tokens to be unlocked gradually. The total supply of HYPE is capped at 1 billion tokens. Currently, approximately 238.4 million HYPE tokens are in circulation. HYPE is currently trading at approximately $26, with a market capitalization of $6.2 billion and a fully diluted market capitalization of $25.1 billion. Over 61% of HYPE tokens remain locked.
