Hyperliquid price risks breakdown from descending channel ahead of $350M token unlock
NegativeCryptocurrency
- Hyperliquid's price is under significant pressure as it trades at $35.24, marking a 1.7% decline over the past day and a 27% drop overall, coinciding with a major $350 million token unlock. This situation arises amid a persistent downtrend that has lasted several months.
- The upcoming token unlock raises concerns about increased sell pressure, which could further exacerbate the token's declining value. Investors are wary as the market grapples with the implications of this substantial influx of tokens.
- The broader cryptocurrency market is experiencing volatility, with significant token unlocks totaling $566 million expected to impact liquidity and investor sentiment. Additionally, various bearish patterns have emerged, suggesting potential further declines, while competition in the decentralized finance sector intensifies.
— via World Pulse Now AI Editorial System
