Market Update: AVAX and HYPE Navigate Key Support Levels and Upcoming Unlocks
AVAX faces price pressure and a collapse in open interest, with data showing traders closing net futures positions. The Etna upgrade cut C-Chain fees by 99.9% and lifted on-chain traffic, yet a risk-off mood persists, keeping spot demand and derivatives appetite subdued around the $30–31 area.
For HYPE, the note highlights lagging performance and a coming unlock of 11.9 million tokens in November, raising dilution fears. Current metrics show HYPE posting 24h volume of $473–599 million with a market cap near $16 billion, while AVAX prints about $1.45 billion in 24h volume and a market cap near $9.56 billion. Price-wise, HYPE hovers at $42–48 as momentum cools.
Implications and Risk Outlook
AVAX faces thinner derivative liquidity, wider spreads, and a potential liquidation squeeze if support breaks. Desks must reset margins and stops, while compliance and treasury teams need full flow logs and tight control of perpetual exposure to manage slippage and funding swings as open interest contracts.
HYPE’s November unlock adds direct sell risk, with early stakers exiting and growing outflows. Extra supply can pressure price lower but also lift volatility, making liquidity management and execution discipline critical into the event window.
Jina flags the HYPE unlock in November as the next checkpoint. AVAX needs to hold chart support while open interest keeps falling, and teams and investors should check margins, track flows, and keep risk tight as liquidity thins and derivative volatility rises.
