Hyperliquid Labs is set to distribute its first batch of HYPE tokens, valued at $312 million, on January 6. This release will see 1.2 million tokens allocated to core contributors as part of a broader strategy that reserves 23.8% of the total 1 billion token supply for team members. Currently, over 61% of HYPE tokens remain locked. The HYPE token is trading at $26, contributing to a market capitalization of $62 billion. As the distribution date approaches, traders are closely monitoring the impact on altcoin markets.