$HYPEThe decentralized exchange’s (DEX) native cryptocurrency, Hyperliquid, is up more than 2% on Saturday to trade at $36.3. This rise may be associated with increased trading activity on Hyperliquide’s HIP-3 platform, as traditional stock and commodity markets are closed for the weekend. Amid the success of the HIP-3 commodity markets, analysts predict that the platform’s buyback and burn mechanism remains a main counterforce for the upcoming token unlock on April 6. Is the price of hyperliquids ready for a bullish rebound?
Hyperliquid Faces $356M Token Unlock As April 6 Cliff Approaches
The Hyperliquid ecosystem is preparing for a major liquidity event on April 6, 2026, when the protocol will have the next monthly “cliff” in its vesting schedule. Based on on-chain data and tokenomic trackers such as Tokenomist, up to 9.92 million $HYPE tokens may be eligible to be released under Major Backer Acquisition Agreements, which are estimated to be worth approximately $356.6 million at the current price level.
This translates to approximately 2.66% of the existing circulating supply and is one of the highest unlock potentials of the asset in a single day this week.
Although the overall figure of around 10 million tokens has created some nervousness in the market, past trends indicate that the actual selling pressure could be much less. The Hyperliquid Foundation has indicated that the next claim in this cycle will be around 330,000 $HYPE ($12.1 million).
In previous months, the core team has historically only claimed a small fraction (ranging from 1.4% to 17%) of its available tokens, choosing to keep the rest locked or in protocol treasures to maintain market stability.
Traders are closely watching how the market absorbs this supply, especially given Hyperliquid’s current dominance in the decentralized perpetual exchange (Perp DEX) space. The platform’s buy-and-burn mechanism continues to be a major counterforce, with volumes recently hitting an all-time high of $5.4 billion on the back of the success of the HIP-3 commodity markets.
This mechanism protocol involves fees to be taken $HYPE The market withdrawal played an effective role in mitigating the effects of past unlocks, so much so that some analysts now view the April 6 event as an absence of an event, rather than a bearish event.
Hyperliquid Price Faces 7% Drop Before Major Breakdown or Reversal
Over the past two weeks, the hyperliquid price has seen a sharp correction from $43.76 to the current price of $36.5, registering a loss of 16.53%. This pullback aligns with a broader market correction amid escalating geopolitical tensions and oil price volatility.
However, a closer look at the technical chart shows that this pullback is part of an occasional correction amid the formation of an ascending channel pattern. Since mid-June 2026, the $HYPE The price has seen a steady rise within two ascending trendlines on the daily chart.
If this trend continues, the hyperliquid price could drop another 7% and retest the lower trendline at $34. The potential retest is a pivotal moment for $HYPE to determine the next price trajectory.
If sellers force a break below the lower trendline, hyperliquid price could plunge to the next significant support at $28 with accelerating selling pressure.
On the contrary, if buyers demonstrate the durability of the channel support, the coin’s price could attempt its next rebound.
