Major token unlocks scheduled between March 2 and March 8, 2026, are set to release over $350 million worth of tokens into circulation, potentially pressuring cryptocurrency prices amid a volatile market.
Unlock Overview
34 tokens with unlocks this week, featuring current prices as of March 2 UTC 7.30 AM, 24-hour price changes, market caps, released percentages relative to max supply, upcoming unlock values, and their share of circulating supply. Total unlock value exceeds $350 million, led by Hyperliquid’s HYPE at $304.94M (0.0272% of circulating supply), Ethena’s ENA at $18.06M (0.0224%), and Redacted’s RED at $6.11M (0.1613%).
Smaller unlocks like Bitmex’s BMEX ($292.73K) and Honey’s HONEY ($112.67K) pose minimal risk, but mid-tier events for Optimism’s OP ($2.38M) and BounceBit’s BB ($729.24K) could amplify volatility in DeFi and Layer-2 sectors.
Key Highlights
- Top Unlocks by Value: HYPE dominates with $304.94M from a $7.37B market cap token priced at $30.75 (down 0.68% in 24h). ENA follows at $18.06M from an $865.73M cap, while RED’s $6.11M represents a hefty 0.1613% supply hit.
- High Supply Impact: RED (0.1613%), SPEC (0.0775%), and MMT (0.1062%) stand out for larger proportional releases, risking sharper price dips compared to low-impact ones like SVL (0.0006%).
- Price Momentum: STIK (+4.38%) and ACE (+2.63%) show gains despite unlocks, while SXT (-6.81%) and BB (-5.48%) face downward pressure.
Market Implications
Token unlocks increase circulating supply, often leading to selling by early investors, VCs, or team allocations cashing out. HYPE’s massive $304.94M release despite low relative impact could test its $7.37B cap, especially with a -0.68% 24h move signaling weakness.
ENA’s $18.06M (0.0224%) targets synthetic dollar protocols in a stablecoin-heavy environment. RED’s outsized 0.1613% hit on a $47.10M cap amplifies risks for smaller caps, potentially cascading to correlated assets like AURORA ($145.66K unlock).
This week’s broader tokenomics vesting updates also reveal maturity levels across projects. AXS (99.76%) nears full circulation with a modest $828.68K unlock, minimizing future dilution, while low figures like MMT (4.64%) signal prolonged vesting tails.
| Token | Unlock Value | % Circ. Supply | 24h Change | Market Cap | Risk Level |
|---|---|---|---|---|---|
| HYPE | $304.94M | 0.0272% | -0.68% | $7.37B | Medium |
| ENA | $18.06M | 0.0224% | -1.18% | $865.73M | Low |
| RED | $6.11M | 0.1613% | -0.84% | $47.10M | High |
| OP | $2.38M | 0.0098% | -1.84% | $259.24M | Low |
| BB | $729.24K | 0.0287% | -5.48% | $10.02M | High |
This table flags “High” risk for unlocks >0.05% supply on tokens with negative 24h momentum and sub-$100M caps. According to data tracked by Tokenomist, this week’s vesting activity spans multiple sectors, from DeFi and Layer-2s to AI and gaming ecosystems.
Sector Breakdown
DeFi and Layer-1s: OP ($2.38M) and IOTA ($819.95K) highlight L2/L1 growth, but with 46.51% and 83.28% already released, further unlocks may stabilize rather than shock. AERO’s 150.16 (likely K, data anomaly) on $316.69M cap underscores perpetuals sector pressure.
Memecoins and AI: HYPE’s Hyperliquid fame drives hype, yet $304.94M tests liquidity. ELX (21.92% supply hit on tiny $568.31K cap) exemplifies AI tokens’ vulnerability.
Gaming/NFTs: AXS ($828.68K, 99.76% released) and GFAL ($61.97K) signal maturing ecosystems, less prone to dumps as cliffs end.
Low Caps Watch: NYAN ($1.16K), DCK ($3.44K), and HMX ($7.75K) offer micro-impacts but high volatility for traders eyeing 10x pumps post-unlock.
In Q1 2025, similar schedules saw APT’s $50M unlock spark a 12% dip, mirroring potential for ENA/RED here. Web3 funding trends favor projects with low unlock cliffs, aligning with user’s interest in SocialFi like AERO. As of March 2026, total vested supply across tracked tokens averages ~60%, down from 2024 peaks, aiding price discovery.
Conclusion
While HYPE dominates headlines, fragmented unlocks across 34 tokens diversify pressure. This week’s events underscore vesting’s role in 2026’s bull-bear balance opportunities lurk for prepared analysts.
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