The crypto market will welcome tokens worth more than $585 million over the next seven days. Major projects like Hyperliquid (HYPE), Sui (SUI), and EigenCloud (EIGEN) will release new tokens into circulation.
These releases could introduce new supply pressures, potentially leading to short-term volatility and price fluctuations. Here is a breakdown of what to watch for in each project.
1. Hyperliquid (HYPE)
- Unlock Date: December 29
- Number of Tokens to be Unlocked: 9.92 million HYPE (0.992% of Total Supply)
- Current Circulating Supply: 238.38 million HYPE
- Total supply: 1 billion HYPE
Hyperliquid is a leading decentralized perpetual futures exchange built on its own Layer-1 blockchain. It offers high-performance trading with low latency, on-chain order books, and sub-second transaction finality.
On December 29, the project will release 9.92 million tokens valued at approximately $258.03 million. This accounts for 2.87% of the current released supply.
Hyperliquid will direct all the unlocked tokens to the core contributors. In addition to this cliff unlock, on January 6, the network will distribute 1.2 million HYPE tokens to team members.
2. Sui (SUI)
- Unlock Date: January 1
- Number of Tokens to be Unlocked: 43.69 million SUI (0.44% of Total Supply)
- Current Circulating Supply: 3.736 billion SUI
- Total Supply: 10 billion SUI
Sui is a high-performance Layer-1 blockchain. It utilizes the Move programming language to enable scalable, secure, and efficient decentralized applications (dApps). Moreover, the network focuses on parallel execution for high throughput, making it suitable for gaming, decentralized finance (DeFi), and Web3 ecosystems.
On January 1, Sui will unlock 43.69 million SUI tokens as part of its ongoing monthly vesting schedule. This stack represents 1.17% of the released supply. Furthermore, it is worth approximately $65.10 million.
Of the unlocked supply, 19.32 million SUI will go to Series B investors. Community reserve and early contributors will get 12.63 million and 9.98 million SUI, respectively. Lastly, Mysten Labs will receive 2.07 million altcoins.
3. EigenCloud (EIGEN)
- Unlock Date: January 1
- Number of Tokens to be Unlocked: 36.82 million EIGEN (2.07% of Total Supply)
- Current Circulating Supply: 494.59 million EIGEN
- Total Supply: 1.779 billion EIGEN
EigenCloud (formerly EigenLayer) is a verifiable cloud platform built on the EigenLayer protocol. It offers developers a unified infrastructure to create trustless, verifiable Web3 applications and services.
On January 1, the network will unlock 36.82 million EIGEN tokens, valued at approximately $14.69 million. The unlocked tokens represent 9.74% of the released supply.
The team will split the unlocked supply two ways. Investors will gain 19.75 million tokens. Moreover, early contributors will get 17.07 million EIGEN.
In addition to these three, Ethena (ENA), Kamino (KMNO), and Renzo (REZ) will also experience new supply entering the market this week.
The post 3 Token Unlocks to Watch This Week appeared first on BeInCrypto.
