Hyperliquid HYPE token price dips after Trump comments, token unlocks continue

Hyperliquid’s HYPE token slipped to $67.89, down about 1.8% on the day, after U.S. President Donald Trump told reporters in Ankara he believes the Iran memorandum of understanding is “over.” The comment prompted a brief risk‑off move in crypto markets, but the token remained above its 50‑day SMA at $64.42 and stayed on the rising trendline that has supported its rally since May. Technical indicators such as the RSI stayed neutral, leaving the downside outlook uncertain.

A separate development on July 6 saw 9.92 million HYPE tokens (roughly $645 million) unlocked for core contributors. Despite the large influx, the price held above $68, supported by Hyperliquid’s buy‑back fund, which continuously purchases HYPE using 97‑99% of protocol fees. The platform reported cumulative revenue exceeding $1 billion and a Q1 2026 trading volume of $492.7 billion, reinforcing the token’s valuation floor while market participants anticipate further price movement ahead of a potential Binance listing.