HYPE, the Hyperliquid token, fell below $20 following strong selling pressure. On-chain data shows that the decline is not due to changes in the project’s fundamentals, but to excess supply from team token unlocks and sales by large holders.
The price continues a downtrend after reaching previous highs, with elevated volume indicating active participation from sellers. The market structure reflects a phase of distribution and inventory absorption, with no signs of deterioration in the project’s operations or community.
Analysts from Altcoin Sherpa note that HYPE established itself in 2025 as a reliable asset, with consistent cash flows and wide adoption among traders, making it a recurring allocation during market pullbacks.
Selling pressure could extend the decline while unlocks are executed and supply is absorbed. The project’s fundamentals remain intact, and the price is expected to stabilize once inventory clearance is complete, before a more stable structure forms.
Source: https://x.com/AltcoinSherpa/status/2013603669032284572
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