Hyperliquid USD Drops 4.5% to $84.51 After $330M Token Unlock

Hyperliquid USD fell 4.5% to $84.51 in 24 hours, driven by a $330 million token unlock completed by Hyperliquid Labs for an undisclosed OTC deal and regulatory pressure from Singapore’s Monetary Authority. The move reflects supply concerns as 3.75 million HYPE tokens entered liquid wallets, combined with a broader crypto market pullback where Bitcoin dropped 2.1%.

Why the $330M token unlock pressured HYPEUSD

Hyperliquid Labs completed a seven-day unstaking of 3.75 million HYPE tokens worth roughly $330 million for an institutional OTC arrangement around October 7. The unlocked tokens now sit in liquid wallets, creating overhead supply risk. While the OTC buyer has not yet sold on the open market, traders are pricing in the possibility of future selling pressure.

Regulatory friction compounds the decline

Singapore’s Monetary Authority stated it does not consider Hyperliquid regulated, adding jurisdictional uncertainty to the coin-specific selling pressure. This regulatory headwind coincided with a risk-off tone across crypto, where Bitcoin fell 2.1% and total market cap dropped 2.47%, dragging altcoins lower alongside HYPEUSD.

Technical indicators show neutral momentum with strong trend

The RSI stands at 47.9, indicating neutral momentum with no overbought or oversold conditions. The ADX reads 32.13, confirming a strong downtrend. Price sits at $84.51, above the Bollinger Band lower support at $76.66 but below the 50-day moving average of $85.23, suggesting consolidation pressure.

Meyka forecasts a recovery within one month

Meyka’s one-month forecast targets $91.0, a 7.7% gain from the current price, implying a bounce if the OTC supply concern eases. However, the 12-month forecast of $67.94 sits 19.6% below current levels, reflecting longer-term bearish sentiment. Forecasts may change due to market conditions, regulations, or unexpected events.

Final Thoughts

HYPEUSD’s 4.5% drop reflects a collision of coin-specific supply risk from the token unlock and broader market weakness. The $80 support level is now the key watch point; a break below it could trigger a test near $75 if selling pressure persists.

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Disclaimer:

Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.