Three tokens that were unlocked during the first week of April 2026

The cryptocurrency market is expected to see more than 643 million USD worth of tokens unlocked in the very first week of April 2025. Notably, major projects like Hyperliquid (HYPE), Sui (SUI), and Ethena (ENA) will all increase their circulating supply at the same time, creating potential catalysts for price volatility in the short term.

Below are the points to watch:

Hyperliquid (HYPE)

• Unlock date: 4/6
• Token amount: 9.92 million HYPE
• Circulating supply already released: 415.33 million HYPE
• Total supply: 1 billion HYPE

Hyperliquid is a standout decentralized perpetual futures trading platform, running on its own high-performance Layer-1 blockchain with low latency, an on-chain order book, and near-instant transaction settlement.

During the unlock on 4/6, about 9.92 million HYPE (equivalent to 375.84 million USD) will be put into circulation, accounting for 2.66% of the already released supply. All of these tokens will be allocated to core contributors.

Token HYPE will be unlocked in April | Source: TokenomistHowever, according to Tokenomist, history shows that the actual amount of HYPE received is often significantly lower than the expected figure, a factor that could somewhat reduce immediate sell-side pressure.

Sui (SUI)

• Unlock date: 4/1
• Token amount: 42.94 million SUI
• Circulating supply already released: 3.9 billion SUI
• Total supply: 10 billion SUI

Sui is a high-performance Layer-1 blockchain that uses the Move language to optimize scalability, security, and the efficiency of decentralized applications (dApps).

With a parallel execution mechanism, Sui achieves high throughput, making it suitable for areas such as games, DeFi, and the Web3 ecosystem.

Token SUI will be unlocked in April | Source: TokenomistDuring the scheduled unlock on 4/1, about 42.94 million SUI (worth 36.36 million USD) will be released, equivalent to 1.10% of the already released supply.

Detailed allocation:

• 19.32 million SUI to Series B investors
• 12.63 million SUI to the community reserve fund
• 8.93 million SUI to early-stage contributors
• 2.07 million SUI to Mysten Labs

Ethena (ENA)

• Unlock date: 4/2
• Token amount: 40.63 million ENA
• Circulating supply already released: 7.84 billion ENA
• Total supply: 15 billion ENA

Ethena is a “synthetic dollar” protocol built on Ethereum, with its flagship product being USDe—a synthetic stablecoin. ENA serves as a governance token in the ecosystem.

On 4/2, the project will unlock 40.63 million ENA, worth about 3.64 million USD, equivalent to 0.52% of the already released supply. All of these tokens will be allocated to the Foundation.

In addition to the three key names, projects such as Gunz (GUN), EigenCloud (EIGEN), and Opinion (OPN) will also add new supply to the market during the same period. This coordinated increase in supply could become a short-term factor that creates noise, especially given that liquidity and market sentiment are still highly sensitive.