Hyperlane (HYPER) achieved a record price following listings on major South Korean exchanges and unprecedented trading activity, though analysts caution upcoming token unlocks might trigger volatility.
The cryptocurrency surged 500% within 24 hours after its introduction on Upbit with Korean Won trading pairs, peaking at $0.689 before experiencing a minor correction. Trading volume skyrocketed 1,663% to surpass $1 billion during the same period, fueling HYPER’s market capitalization growth from a base of $20 million to over $95 million.
On-chain analysis reveals significant accumulation by large holders. The top 100 addresses increased their HYPER holdings by 93.2 million tokens, suggesting substantial investor confidence amid the price rally despite inherent market risks.
Only 8% of HYPER’s total token supply is currently in circulation, raising concerns about potential downward pressure from scheduled token unlocks. Market observers warn of possible turbulence ahead, noting similarities between HYPER’s momentum and the volatile price trajectories previously seen in tokens like Mantra (OM) and Kinto (K).