Hyperliquid’s native tokens could still face a “Damocles Sword” moment in the biggest test, with $500 million worth of monthly unlock set to begin on November 29th, according to a study by Bitmex co-founder Arthur Hayes’ Family Office Fund, Maelstrom.
High lipid (hype) tokens will face “first true tests” on November 29th, when the 24-month vesting schedule begins, Maelstrom said Monday.
The vesting schedule could put sales pressure on team members by distributing $11.9 billion worth of high lipid (hype) tokens over 24 months and creating what analysts said. The current buybacks only absorbed about 17% of the monthly supply, leaving a potential overhang of around $410 million, said Lukas Ruppert, a researcher at Maelstrom.
“Wear in high lipid developer shoes. You’ve been flipping and working hard for years. The life-changing amount of tokens is just a click,” Rupert wrote.
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Monthly releases represent a substantial risk of Hyperliquid’s price stability. Ruppert said the number of digital assets and finance ministries (DATS) like Sonnets is growing (bucket drops compared to impending hype).
NASDAQ-registered biotech company Sonnet Biotherapeutics has partnered with newly created entity Rorschach to launch a hype financial strategy with $583 million in hype tokens and more than $355 million in cash, Cointelegraph reported on July 17th.
$355 million in cash will also be used to get more hype tokens, which still pales in comparison to future unlocking of tokens
The study came out shortly after Hayes sold all of his hype tokens. He apparently had paid a new Ferrari deposit, Cointelgraf reported Monday.
Hayes previously predicted that tokens could rise 126 times by 2028, but acknowledged that future vesting phases could cause volatility.
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High lipids see growing competition from Aster
Competition is also intensifying the decentralized exchange high lipids.
On Thursday, the decentralized, persistent, permanent Aster associated with Binance co-founder Changpeng Zhao temporarily surpassed the $2 billion total value lock (TVL), following the launch of the project’s Aster token, Cointelegraph reported.
“I had lunch at a crypto facility, I’m not trying. Business is war,” said a researcher at Maelstrom.
“Does CZ press Aster two months before unlocking? Probably not by coincidence.”
The hype token rose to a new all-time high of $59.29 on Thursday after Zhao posted a chart for Aster, the native token of rival derivative Dex.
Hayes was selling all the hype, but he still sees the possibility of a 126x rallies by 2028, he wrote in Monday’s X-Post.
Hayes predicted a 126x surge in hype tokens at the WebX 2025 conference in Tokyo. This is driven by the ongoing weakness of shortages that promote the source of the regular physical market, with annual revenues likely to reach $25.5 billion from the then annual revenues.
Hayes is known for his crypto space for his bold price predictions.
In April, Hayes predicted that Bitcoin (BTC) would surpass $250,000 by the end of 2025 if the US Federal Reserve pivoted to quantitative easing (QE). This is when the Fed puts money into the economy to buy bonds, lower interest rates and encourage spending during difficult financial situations.
https://www.youtube.com/watch?v=-cpjxnan8s4
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