The Hyperliquid (HYPE) price starts December with heavy volatility and major headlines shaping its direction
The big story is the newly approved merger that creates a dedicated HYPE treasury aiming to raise up to $1B for token purchases – including $265M ready to deploy
Also, a 1.75M HYPE unlock added pressure during a broader market selloff, pushing the price back to the $29 support. With momentum fading and uncertainty rising, traders are watching for the next strong move.
Here are the three factors that could determine where HYPE goes in 2026.
$1B Treasury Catalyst
Hyperliquid’s merger with Sonnet BioTherapeutics sets up a massive treasury designed to buy HYPE on the open market. OAK Research estimates the first round could include 2.6M HYPE (~$87M), an amount equal to more than a month of current daily buybacks compressed into a shorter window.
This creates structural demand that can support the price even during weak market conditions. If the treasury deploys capital consistently, it could act like a long-term buyer – similar to corporate buybacks in traditional markets – and help stabilize or lift the HYPE price through 2026.
Token Unlock Overhang
On December 1, Hyperliquid unlocked $354M worth of HYPE, equal to 2.66% of the supply. This is part of a much larger schedule: 237.8M HYPE (around $7.9B) will vest linearly until 2027, adding roughly $410M worth of new supply every month.
Current buybacks average $2.5M a day, which can only absorb a fraction of this. Unless demand or ecosystem revenue increases meaningfully, these unlocks could limit upside and create repeated waves of sell pressure throughout 2026.
Read Also: This Expert Says Ripple’s XRP Price to $4 Is “Easy”: Here’s Why
Technical & Sentiment Risks
The HYPE price lost the $29 support, showing weakness despite oversold RSI levels near 30. Momentum on spot markets remains weak, with daily volume around $342M, far below the activity seen in derivatives markets
This imbalance makes the price easier to push around when liquidations hit. Open interest is up 2.52% to $773B, which shows traders are gearing up for big moves, but it also means the drop could get sharper if the price falls again.
If the HYPE price can close back above $36.36, the mood could shift quickly and force short sellers to exit. Failure to do so leaves the door open for a deeper drop toward $19.
Moreover, the Hyperliquid price could enter 2026 with powerful bullish potential on one side and heavy supply pressure on the other
The coming year will likely depend on whether the $1B treasury buyer outweighs the impact of constant token unlocks.
If the treasury acts aggressively and HYPE recovers key resistance zones, the price could rebound quickly. If not, early 2026 may bring more downside before a stronger base forms.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
The post 3 Factors That Could Decide Hyperliquid (HYPE) Price in 2026 appeared first on CaptainAltcoin.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
'Black Swan' Author Nassim Taleb Believes Elon Musk's X Money is 'Much Smarter' Than Bitcoin - U.Today
Elon Musk's X Money will enter early access in April, with Nassim Taleb praising it as a superior alternative to Bitcoin. He argues it promotes competition in currency issuance, functional daily use, and is backed by a robust infrastructure, unlike volatile cryptocurrencies.
UToday49m ago
ETH 15-minute decline of 0.80%: On-chain large fund flows and DEX selling pressure resonate to trigger a downtrend
2026-03-11 15:00 to 2026-03-11 15:15 (UTC), ETH price briefly and rapidly declined within the range of 2042.35 to 2065.57 USDT, with a K-line return of -0.80% and an amplitude of 1.13%. Market volatility intensified during this period, with significantly increased attention, and short-term market pressure triggered market alertness.
The main driving force behind this anomaly is large-scale on-chain fund flows and sell pressure concentrated on decentralized exchanges (DEX). Monitoring data shows multiple large ETH transfers to trading platforms, suspected to involve institutions or whales.
GateNews1h ago
XRP Price Hints at Bullish Reversal as Negative Funding Rates Build Pressure on Short Sellers
XRP shows potential for a bullish reversal as market indicators align, with negative funding rates possibly triggering a short squeeze. Technical patterns and whale accumulation further support an upward move, indicating a significant price change may be imminent.
CryptometerIo1h ago
Shiba Inu (SHIB) regains momentum as buying pressure reaches the highest level of the month
The price of Shiba Inu (SHIB) is fluctuating around the 0.0000056 USD mark at the time of writing on Wednesday, after rising nearly 7% over the past two days. This recovery trend appears as on-chain indicators and derivatives market data begin to send positive signals. Trading volume is increasing.
TapChiBitcoin2h ago
Goldman Sachs: Hedge fund positioning may create conditions for a rebound in US stocks, with short positions rising to the highest since September 2022
Goldman Sachs report indicates that the structure of hedge fund positions in the US stock market is creating conditions for a market rebound. Speculators maintain long positions while shorting ETFs and futures. Short positions have reached their highest level since September 2022, reflecting market responses to uncertainty. If positive news emerges, it could trigger a rapid market rally.
GateNews2h ago
ETH 15-minute increase of 0.83%: Whales' capital inflow and DeFi lending demand resonate to drive the price
Between 13:30 and 13:45 (UTC) on March 11, 2026, ETH experienced a short-term fluctuation. The candlestick data shows a return of +0.83%, with a price range of 2046.07 to 2082.31 USDT, and an amplitude of 1.77%. Market activity increased during this period, with trading volume significantly higher than the previous cycle, and volatility exceeding the intraday average, attracting widespread market attention.
The main drivers of this fluctuation were the rapid inflow of large on-chain funds and active institutional accounts. Between 13:32 and 13:43,
GateNews2h ago
