- Over $585M in tokens are set to unlock this week across major crypto projects.
- Hyperliquid, Sui, and EigenCloud lead the supply events, with contributor and investor allocations.
- Short-term volatility may rise depending on how newly unlocked tokens are handled by recipients.
The crypto market is heading into a supply-heavy week, with more than $585 million worth of tokens scheduled to unlock over the next seven days. Several major projects are involved, including Hyperliquid, Sui, and EigenCloud, each releasing fresh tokens into circulation.
These events don’t automatically mean prices will drop, but they do tend to increase short-term volatility. When new supply enters the market, especially in size, traders usually start watching on-chain flows closely, looking for signs of distribution, or restraint.
Hyperliquid (HYPE) Unlock Puts Focus on Contributors
Hyperliquid kicks things off on December 29 with the release of 9.92 million HYPE tokens. That amount represents just under 1% of the total supply, but roughly 2.87% of the currently circulating supply, making it a meaningful addition at current prices. The unlock is valued at around $258 million, so it’s not small by any measure.
All of these tokens are allocated to core contributors, which is worth noting. Contributor unlocks can sometimes lead to selling, sometimes not, it depends on incentives and timing. On top of this, Hyperliquid is also set to distribute another 1.2 million HYPE tokens to team members on January 6, adding a second supply event shortly after the first.
Sui (SUI) Continues Its Monthly Vesting Cycle
Sui’s next unlock arrives on January 1, with 43.69 million SUI tokens scheduled to enter circulation. This batch represents about 0.44% of the total supply and roughly 1.17% of the released supply, valued near $65 million. It’s part of Sui’s regular monthly vesting schedule, so the event itself isn’t unexpected.
The distribution is split across multiple groups. Series B investors receive the largest portion, followed by allocations to the community reserve and early contributors. Mysten Labs also receives a smaller share. While routine, these unlocks still matter, especially if broader market conditions remain fragile.
EigenCloud (EIGEN) Adds Noticeable Relative Supply
EigenCloud, formerly known as EigenLayer, will also unlock tokens on January 1. The network plans to release 36.82 million EIGEN, representing just over 2% of total supply and nearly 10% of the released supply. In relative terms, that makes this unlock one of the more impactful of the week, even if the dollar value, roughly $14.7 million, is smaller.
The split is straightforward. Investors receive about 19.75 million tokens, while early contributors take the remaining 17.07 million. Given EigenCloud’s positioning as a verifiable cloud layer for Web3 infrastructure, traders will be watching closely to see how recipients handle the new supply.
More Supply Events Add to the Mix
Beyond these three, several other projects are also unlocking tokens this week. Ethena, Kamino, and Renzo will all introduce new supply, adding to the overall pressure across the altcoin market. Individually, these may seem manageable, but together, they contribute to a heavier-than-usual supply backdrop.
As always, the real impact won’t come from the unlocks themselves, but from what happens after. Exchange inflows, wallet movements, and market sentiment will determine whether this supply is absorbed quietly, or becomes a short-term headwind.
