- Nearly 9.92 million HYPE tokens worth $368 million will be released on April 6, 2026.
- Ripple Prime expanded integration with Hyperliquid.
- Positive ecosystem news failed to offset the impact of the upcoming token unlock.
Hyperliquid’s native token HYPE has plunged more than 5% today, March 31, 2026. With this drop, the token is trading around $35.86 mark and is underperforming the broader cryptocurrency market, even though there has been a positive ecosystem news recently.
The main reason for this drop is the massive token unlock that has been scheduled this week. To add to this pressure there are global tensions and technical exhaustion as well.
Even Ripple Prime’s announcement of expanding into Hyperliquid’s HIP-3 protocol, could not stop the downside as supply concerns dominate.
At press time, the price of the token stands at $36.02 with a drop of 5.08% in the last 24-hours as per CoinMarketCap.
Major Token Unlock Sparks Pre-Emptive Sell-Off
Various tokens are scheduled to unlock from March 30-April 6, 2026. Here, HYPE tokens are also included. According to the data provided by Tokenomist, around $368 million in HYPE (which is equal to 9.92 million HYPE tokens) will be released on April 6, 2026. These events usually prompt pre-emptive sales to brace for supply dilution, eclipsing bullish catalysts like a recent $1.24 million protocol buyback and Ripple Prime’s HIP-3 integration push.
The expansion positions Ripple Prime to leverage Hyperliquid‘s high-performance infrastructure for advanced trading and DeFi applications, indicating the increasing institutional adoption. With this integration institutional investors will be able to trade tokenized real-world assets like gold, silver and oil through on-chain perpetual contracts, bridging traditional finance with DeFi.
Even though there is this positive news, the market is still stuck on the unlock risks. As the token managed to gain about 49% year-to-date surge, the community is scared if the market will be able to absorb the upcoming tokens or not.
Broader Market Drag and Technical Rejection Amplify Losses
The drop is in line with sector weakness as the crypto market is down by almost 1.8% and Bitcoin is down by 1.99% today as per CoinMarketCap. This also indicates that the HYPE token is a high beta token. The token with this drop and all the market conditions has not been able to cross the $40 mark and rejection at $38-$41 resistance, coupled with exhaustion signals profit-taking.
Bitcoin’s health is crucial here, because the more BTC losses, the altcoin pressure will increase and this will override ecosystem wins such as Ripple Prime’s entry.
Near-Term Outlook: Support Zone Holds the Key
HYPE’s fate rests on the $33-$35 support zone (50-day/200-day MA convergence). A hold above $35 might allow consolidation toward $38-$41, pushed by HIP-3 momentum. If the token somehow drops below $33 then the price could further drop to the $30 mark.
Cautiously neutral outlook still persists, with unlocks testing bullish setup like the golden cross. Low-volume support holds would be bullish.
Final Thoughts
Even though there has been a significant development within the Hyperliquid’s HIP-3 protocol (which is aimed at allowing institutional access to tokenized real-world assets and strengthening the platform’s DeFi infrastructure) market sentiment remains firmly dictated by supply-side concerns. The looming token unlock has overshadowed this bullish development, highlighting how short-term adoption narratives.
Going forward, HYPE’s price action will largely depend on how well the market absorbs the incoming supply, with the $33-35 support zone acting as a key test to determine whether this is a temporary dip or the start of deeper correction.
Also Read: Hyperliquid Price Stabilizes at $40 After Strong Monthly Rally
