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Jakarta, Pintu News – Late November, the crypto market faced one of the most sensitive moments of November: the big token unlock agendas of Hyperliquid (HYPE) and Treehouse (TREE).
This is a concern for traders as each token is in a different technical position, while differences in inflation mitigation mechanisms mean the impact is not predicted to be the same.
Hyperliquid (HYPE) conducted a token unlock of approximately 10 million tokens on November 29, equivalent to less than 3% of the total supply. This unlock was the first since the Token Generation Event (TGE) on November 29, 2024, and marked the start of a three-year monthly linear vesting schedule.

This token release marks an inflationary phase that may increase selling pressure in the market, especially for traders holding tokens on a short-term basis. This additional inflation could hold back potential price gains, even if technical conditions indicate a positive bounce.
However, Hyperliquid has a buyback program designed to help cushion the impact of inflation. This program could potentially absorb some of the supply of tokens entering the market, reducing the magnitude of selling pressure.

On the daily chart, HYPE showed a bounce off the $33 support level on November 23. The bounce halted the downward trend that had been ongoing since September and provided an early indication of a possible reversal.
However, HYPE prices are still facing strong resistance in the $38 area or around Rp634,410. As long as this resistance has not been broken, the bullish trend cannot be confirmed technically. On the other hand, the $32.50 area or around IDR542,587 is also an important point as a downward breakout could strengthen selling pressure.
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Treehouse (TREE) also had a significant token unlock of 11 million tokens this weekend. This equates to almost 6% of the circulating supply, making it proportionally much larger than HYPE.
This unlock starts the inflationary period with a monthly linear vesting schedule, just like Hyperliquid. However, the difference is that TREE does not have a buyback program or other mechanism to withstand selling pressure arising from this additional supply, so the risk is much greater.

Technically, the price of TREE has been moving below the sloping resistance trend line since July. Several breakout attempts occurred, but all failed and only resulted in a series of lower highs. This indicates weak buying momentum in recent months. TREE’s price is also now just above the strong horizontal support at $0.140 or around Rp2,337, and additional weakness could drag it below that area.
With the unlock approaching, the risk of a breakdown below $0.140 is growing. If this support is lost, TREE could potentially print an all-time low. The lack of a new supply restraint mechanism puts the token in a more fragile position than HYPE.
The end of November was a pivotal moment for two crypto tokens that are under immense pressure. Hyperliquid still has a chance to temper the unlock effect thanks to its buyback program, but still needs a break of resistance to confirm a bullish trend. In contrast, Treehouse is in a much weaker technical state, with a huge risk of new supply that lacks inflation mitigation.
Large unlocks can increase the circulating supply, creating selling pressure that impacts the price volatility of both tokens.
HYPE token unlocked around 10 million tokens on November 29, equivalent to less than 3% of the total supply.
TREE token unlocked 11 million tokens, almost 6% of the supply, without a buyback program, which put more pressure on inflation.
HYPE needs to break the $38 resistance for bullish confirmation and keep the $32.50 level as important support.
The biggest risk is the loss of $0.140 support which could push the price down towards an all-time low.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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