On June 23, Hyperliquid Strategies fell 8.32% in regular trading, trading at $8.44/share, with turnover of $47.01 million. The decline was driven by persistent selling pressure from large-scale HYPE token unlocks that continue to create a supply shock in the market.
The stock has now declined over 35% from its high of $11.69, as the token unlock overhang dominates short-term price action. A brief oversold rebound earlier failed to sustain momentum, with selling pressure showing no signs of meaningful relief. Despite multiple institutions previously issuing buy ratings with an $18 target price — citing Hyperliquid's 31.9% market share in perpetual DEX trading, annual platform revenue exceeding $600 million, and a valuation at roughly half that of traditional exchange CME — the stock continued its accelerated decline as unlock-related supply overwhelmed bullish sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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