Czy HYPE to najsilniejszy token tego cyklu, czy czeka nas 50% korekta?

ECHO0 · 2026-06-05T15:54:18.000Z

Wszyscy widzą wykres. Bardzo niewiele osób patrzy na podaż. Ruch z poziomu $30 do prawie $80 nie był napędzany jedynie przez FOMO detalistów. Został zasilony jednym z najbardziej agresywnych squeeze'ów podaży, jakie widzieliśmy w tym cyklu. Co spowodowało ten rajd? Trzy główne czynniki wpłynęły na wzrost $HYPE : • Hyperliquid stał się jedną z najszybciej rozwijających się platform tradingowych w krypto. • Przychody protokołu nieprzerwanie finansowały skupy. • Ogromna część krążącej podaży została zablokowana dzięki stakingowi. Najnowsze badania pokazują, że około 45%–75% krążącego HYPE było stakowane w różnych okresach w 2026 roku, co stworzyło niezwykle cienką płynność. Mówiąc prosto, duży procent tokenów nie był dostępny na sprzedaż. Jednocześnie ekosystem Hyperliquid wciąż się rozwijał, z otwartym zainteresowaniem na platformie sięgającym miliardów dolarów, a HYPE stał się jednym z najczęściej handlowanych aktywów na samej platformie.

Everyone sees the chart.Very few people are looking at the supply.
The move from the $30s to nearly $80 wasn’t driven by retail FOMO alone. It was fueled by one of the most aggressive supply squeezes we’ve seen this cycle.
What Caused the Rally?
Three major drivers pushed $HYPE  higher:
• Hyperliquid became one of the fastest-growing trading platforms in crypto.
• Protocol revenue continuously funded buybacks.
• A huge portion of circulating supply became locked through staking.
Recent research shows roughly 45%–75% of circulating HYPE was staked during various periods in 2026, creating an extremely thin liquid float. In simple terms, a large percentage of tokens weren’t available for sale.At the same time, Hyperliquid’s ecosystem kept growing, with platform open interest reaching billions of dollars and HYPE becoming one of the most traded assets on the platform itself.
The Hidden Risk: Supply Concentration
This is where things get interesting.A significant amount of HYPE is concentrated among large holders, staking contracts, treasury structures, and ecosystem-controlled wallets.
Reports indicate Hyperliquid-related treasury entities control close to 9% of the circulating supply alone. 
Meanwhile, future community allocations and team vesting still represent hundreds of millions of tokens that are not yet fully circulating. 
This means the market is currently trading on a much smaller float than most people realize.
That helps during rallies.It can also amplify crashes.
Could HYPE Fall 40–60%?
Yes.But not necessarily because the fundamentals fail.Historically, parabolic assets often retrace 40–60% even during bull markets.
If HYPE were to drop from $80:
• 40% correction = ~$48
• 50% correction = ~$40
• 60% correction = ~$32
These levels would not automatically invalidate the long-term trend.The bigger threat isn’t spot holders.It’s leverage.HYPE has become one of the largest perpetual futures markets in crypto, with open interest measured in billions. When leverage becomes crowded, liquidations can create waterfall moves regardless of fundamentals. 
Why HYPE Might Not Reach the $20s
The bullish argument is simple:
• Ongoing buybacks reduce liquid supply.
• Large portions of HYPE remain staked.
• No major VC overhang compared with many L1 competitors.
• Platform revenue continues to support demand. 
For HYPE to revisit the $20 range, the market would likely need a major crypto-wide risk-off event, a collapse in Hyperliquid activity, or aggressive whale distribution.
Final Thought
Most traders are watching the price.I’m watching the float.HYPE’s rally wasn’t created by hype alone. It was created by a supply squeeze, staking concentration, buybacks, and explosive platform growth.The same forces that helped push HYPE toward $80 can also create violent corrections.The question isn’t whether HYPE can drop 40%.The question is whether weak hands will sell that 40% dip while strong hands continue accumulating.