Hyperliquid’s HYPE token traded near $81.25 on Aug. 29, 2026, down about 2.3% in 24 hours after reaching a record high of roughly $86.71 on Aug. 27. The decline coincided with the project’s largest scheduled unlock since launch, as 14.18 million tokens worth about $1.2 billion were set to enter circulation. HYPE remained among the 10 largest crypto assets, with a market capitalization near $18.1 billion and 24-hour volume above $1.25 billion, according to CoinGecko data. Demand support includes Hyperliquid Strategies’ 29.3 million-token treasury, AQAv2 buybacks funded by yield on $6.74 billion in USDC deposits, staking and exchange-traded products, while President Trump’s comments about a compliant U.S. path have boosted sentiment. No U.S. retail launch has been approved.