Hyperliquid Labs is making waves in the crypto market with two major HYPE token unlock events confirmed within a single week. According to breaking news shared on the project's Discord, the team unlocked $320 million worth of HYPE tokens on September 30 as part of its regular monthly team unlock program. Rather than releasing these tokens to the open market, Hyperliquid Labs disclosed that the entire amount will be sold over-the-counter (OTC) to an institutional investor.
The OTC arrangement is notable because it could reduce immediate selling pressure on HYPE, as the tokens are absorbed directly by a strategic buyer rather than flooding spot exchanges. However, market participants remain cautious, as the eventual resale of these tokens by the institutional buyer could create future supply overhang.
Adding to the supply event, onchain data from Tokenomics reveals that Hyperliquid has scheduled its next major unlock for October 6, when $856 million worth of HYPE tokens will be released. This represents the largest single token unlock scheduled among all crypto assets for the month of October. With the broader crypto market expecting approximately $1.3 billion in total token releases during October, HYPE's unlock alone accounts for the majority share of all scheduled token releases across the entire industry.
The combined value of the two events reaches $1.18 billion in HYPE tokens within a span of just six days, an unusually concentrated supply event for a single asset. Hyperliquid has been building momentum over recent months, extending its positive monthly return into September with a modest gain of 1.85%. Traders remain hopeful that the anticipated yearly "Uptober" trend may help HYPE sustain its momentum for a third consecutive month of gains, despite the significant increase in circulating token supply.
Market observers are closely watching how the institutional OTC buyer positions the acquired tokens, as well as how the October 6 unlock will be distributed. While large unlocks can pressure prices, some analysts suggest that structured sales to institutional investors may signal growing strategic interest in the Hyperliquid ecosystem and its perpetual trading platform.
