Which token unlocks impact liquidity?

TLDR

Large, one-time (cliff) unlocks and big monthly releases tend to impact liquidity the most; this weeks slate totals over $650 million in new supply entering markets per a market update.

1. Hyperliquid (HYPE): about $333 million cliff unlock (~3.25% of supply) raises short?term sell pressure risk per coverage.
2. Aptos (APT), Ethena (ENA), Linea (LINEA), Movement (MOVE): one?time unlocks > $5 million each this week per the same report.
3. Linear daily unlocks (SOL, DOGE, AVAX, TRUMP, WLD): add $1 million+ per day gradually, with smaller immediate impact if depth is strong per this overview.

Deep Dive

1. Cliff vs Linear

Cliff unlocks add a large block of tradable supply at once, which can widen spreads and drain order?book depth if demand is thin. Linear schedules drip supply daily and typically have milder immediate effects.

1. Over $657 million in unlocks are scheduled in the current 7?day window, a size that can move liquidity between venues when absorption is uneven per a market update.
2. HYPEs single?release unlock is about $333 million (~3.25% of supply), a textbook cliff event with concentrated impact risk per the same report.
3. Daily linear unlocks exceeding $1 million for SOL, DOGE, AVAX, TRUMP, and WLD distribute supply over time, reducing immediate shocks if liquidity is healthy per this overview.

2. Near?Term Examples

The week features several named unlocks that can influence liquidity depending on size versus float and venue depth.

1. Hyperliquid (HYPE): $329.6 million, about 3.61% of supply, listed for Jan 56 windows in reports tracking weekly events per a schedule.
2. Aptos (APT): approximately $21.5 million unlock on Jan 11, a meaningful but smaller cliff event per the same weekly lookahead.
3. Cheelee (CHEEL): roughly $11.67 million on Jan 13 appears on the weekly calendar, adding incremental supply pressure per the lookahead above.

3. Big Monthly Unlocks

Beyond this week, Januarys largest releases can swing liquidity across venues and pairs.

1. Ondo (ONDO): 1.9 billion tokens (~$840 million) scheduled Jan 19, one of the months biggest supply additions per a monthly overview.
2. Bitget Token (BGB): 140 million tokens (~$500 million) on Jan 26, with allocations to team and marketing per the same overview.
3. Official TRUMP (TRUMP) also appears among Januarys top four by dollar value, concentrating attention around its window per that report.

Conclusion

Liquidity impact is highest when unlocks are large relative to circulating supply and concentrated in time. Cliff events like HYPE can widen spreads and raise slippage immediately, while daily linear unlocks mostly test sustained demand. For January, monitor the weekly cliff windows and the larger monthly releases (ONDO, BGB), and gauge venue depth and flows around each date to understand how liquidity may shift across markets.