Hyperliquid’s HYPE token lost the $80 support level a week after reclaiming it, amid institutional selling and team distributions. Over the past 24 hours, HyperLabs distributed more than 179,000 HYPE worth about $14.50 million to six team members whose tokens had been unstaked. In response, more than 21,000 HYPE worth about $1.64 million were bought and burned at an average price of $77.93. HYPE fell to a low of $76 before rebounding toward $80, while technical indicators showed capital outflows and seller control. A Hyperliquid Strategies subsidiary filed an application with the CFTC to become a futures commission merchant, potentially allowing U.S. clients to trade perpetual futures on a regulated platform.
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