This week, several major crypto projects are set to unlock tokens as scheduled, with the total release value drawing significant attention. Among them, Hyperliquid (HYPE) stands out, with a single unlock valued at approximately $256 million, making it a focal point in the market.
Meanwhile, Sui (SUI) will unlock tokens worth about $63.4 million on January 1. These events are unfolding as the Bitcoin price has pulled back roughly 25% from its all-time high, and overall market sentiment has shifted toward caution.
01 Upcoming Token Unlock Schedule
In the coming days, the crypto market will see a series of token unlock events. According to Token Unlocks data, from December 29 to January 2, multiple projects are scheduled to release large quantities of tokens.
Starting today (December 29) at 7:30 AM UTC, Hyperliquid (HYPE) will unlock approximately 9.92 million tokens, representing about 2.87% of the circulating supply and valued at around $256 million.
Tomorrow (December 30) at 12:00 AM UTC, two projects will unlock tokens simultaneously: Slash Vision Labs (SVL) will release about 234 million tokens (2.96% of circulating supply, worth roughly $6.8 million), and Zora (ZORA) will unlock about 166 million tokens (4.17% of circulating supply, worth around $6.7 million).
Also on December 30, at 12:00 PM UTC, Kamino (KMNO) will unlock approximately 229 million tokens, accounting for 5.35% of circulating supply and valued at about $11.8 million.
On December 31 at 12:00 AM UTC, Optimism (OP) will unlock around 31.34 million tokens, making up 1.65% of circulating supply and worth about $8.6 million.
On January 1 at 12:00 AM UTC, Sui (SUI) will unlock approximately 43.69 million tokens, representing 1.17% of circulating supply and valued at roughly $63.4 million.
On January 1 at 4:00 AM UTC, EigenCloud (EIGEN) will unlock about 36.82 million tokens, accounting for 9.74% of circulating supply and worth around $14.4 million.
On January 2 at 7:00 AM UTC, Ethena (ENA) will unlock about 40.63 million tokens, representing 0.56% of circulating supply and valued at approximately $8.6 million.
02 Key Unlock Projects Analysis
Among the upcoming unlocks, HYPE and SUI have the largest scale and may exert a more pronounced impact on the market.
Hyperliquid (HYPE) is particularly noteworthy. This unlock involves about 9.92 million tokens, valued at $256 million and making up 2.87% of the circulating supply.
It’s important to note that the Hyperliquid team previously confirmed that, in earlier unlocks, a total of 1.75 million HYPE tokens were unlocked for developers and core contributors. The team stated that this unlock is part of a predetermined vesting plan and was disclosed in advance. For context, approximately 270 million tokens were fully unlocked on November 29, 2024.
Sui (SUI) also has a significant unlock scheduled. On January 1 at 12:00 AM UTC, SUI will release about 43.69 million tokens, worth roughly $63.4 million, accounting for 1.17% of circulating supply.
While the percentage may seem modest, any large-scale token release can heighten price volatility in the current market environment, especially given that the total crypto market cap has retreated from its mid-year highs.
Zora (ZORA) has a relatively high unlock ratio at 4.17%. Although its absolute value is smaller (around $6.7 million), the higher circulating percentage could lead to greater price fluctuations.
03 Market Context and Impact Assessment
The crypto market is currently in a complex and cautious phase. As of December 29, Bitcoin’s price has hovered around $89,000 after a period of volatility, down about 25% from the all-time high of $126,000 set in October.
Market volatility has fundamentally shifted. The previous "irrational" surges and crashes have become less frequent, replaced by fluctuations driven by macro factors such as Federal Reserve monetary policy.
In this environment, large-scale token unlocks may introduce additional selling pressure. Especially when market liquidity is relatively tight, newly released tokens sold by holders could further depress prices.
It’s worth noting that the impact of unlocks varies between projects. For example, Hyperliquid has never conducted external fundraising, so there is no investor unlock-related selling pressure. This suggests HYPE’s unlock may not trigger widespread sell-offs.
In contrast, projects with venture capital backing may face greater selling pressure as early investors seek to realize profits.
04 Investor Strategies
With a wave of token unlocks approaching, investors need to stay alert and develop appropriate strategies.
Monitor unlock schedules and adjust positions ahead of time. Investors holding tokens slated for imminent unlock may consider reducing exposure before the event or setting stop-loss orders to manage risk.
Differentiate the nature of each project’s unlock. Understanding the background and likely actions of token recipients is crucial. For example, tokens unlocked for teams and advisors may not be sold immediately, while early investors are often more motivated to take profits.
Pay attention to market sentiment and overall trends. The current crypto market has increased correlation with US equities, especially the Nasdaq index. When assessing the impact of token unlocks, it’s important to consider the broader market context.
Consider using hedging tools. For those who prefer not to sell holdings but are concerned about price drops, options and other derivatives can provide effective hedging. Platforms like Gate also offer risk management tools for this purpose.
05 Safe Trading on Gate
During periods of market volatility triggered by token unlocks, choosing a reliable, highly liquid trading platform is essential. Gate offers traders a secure and efficient trading environment, making it well-suited for executing strategies during such events.
Gate provides real-time price data and advanced depth charts, enabling traders to accurately assess market trends. The platform supports various order types—including limit, market, and stop orders—allowing precise control over entry and exit points.
For traders focused on token unlock events, Gate’s news and research sections deliver timely market analysis to help you make informed decisions. The platform also offers a range of risk management tools to help safeguard your assets during market swings.
Gate’s high liquidity ensures that large orders can be executed quickly, minimizing slippage risk. This is especially important during periods of heightened price volatility caused by token unlocks.
Outlook
The market is always searching for direction amid uncertainty. When SUI completes its final unlock at 12:00 AM UTC on January 1, releasing $63.4 million worth of tokens into circulation, the market may have already absorbed much of the impact from this round of unlocks.
But sharp-eyed investors won’t stop there. Bitcoin continues to fluctuate around $89,000, and the reality of a 25% drop from its all-time high serves as a reminder that volatility is a constant in crypto.
At this moment, another unrelated data point also deserves attention: Treehouse (TREE) tokens have risen 2.90% in price over the past 24 hours. This modest yet positive signal suggests that, even in a generally cautious market, opportunities still exist in certain niches.
