A massive wave of token unlocks, totaling over $1 billion, is scheduled to hit the cryptocurrency market between February 2 and February 9, 2026. This influx of new supply arrives at a particularly vulnerable moment, as the market is reeling from a recent crash that wiped nearly $500 billion from total market value and triggered approximately $5 billion in leveraged position liquidations.
The unlocks consist of both cliff unlocks, which release large amounts of tokens at once, and linear unlocks, which add steady pressure. Leading the cliff unlocks is Hyperliquid (HYPE), with about $305 million (9.92 million tokens) entering circulation on February 6. This represents 2.79% of its released supply and is directed to core contributors, though the project has reduced its monthly team unlock from 1.2 million HYPE in January to 140,000 for February.
Other significant unlocks include $91 million from RAIN and $48 million from SOL via linear releases. Major projects with scheduled unlocks in the first week of February are set to release tokens worth more than $638 million.
Key unlocks to watch:
XDC Network (XDC): On February 5, 841.18 million XDC tokens (worth $29.55 million) will be unlocked, representing 5% of the released supply. The allocation is split between founders, advisors, and the team (441.18 million tokens) and ecosystem development (400 million tokens).
Berachain (BERA): On February 6, 63.75 million BERA tokens (valued at $28.8 million) will be unlocked, constituting a substantial 41.70% of its current released supply. The allocation is divided among investors (28.58 million), initial core contributors (14 million), future community initiatives (10.92 million), ecosystem/R&D (8.67 million), and airdrops (1.58 million).
Additional projects like Ethena (ENA), COCA (COCA), and Tribal Token (TRIBL) are also set to experience new supply entering the market this week. Analysts warn that this concentrated release of tokens could introduce significant market volatility, influence short-term price movements, and apply fresh selling pressure on an already weak market.
