Crypto markets will absorb about $630.2 million in token unlocks in the first week of August 2026, led by Succinct's Aug 5 release of 208.33 million PROVE worth $34.7M (104.17% of released supply), Ethena's Aug 5 unlock of 171.88 million ENA worth $15.36M, and Hyperliquid's Aug 6 release of 433,000 HYPE worth $22.74M. These unlocks, with allocations to core contributors, investors and ecosystem funds, increase DeFi token supply and create downside risk through short-term volatility and selling pressure that could impact token prices, governance, adoption and market liquidity.

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In Brief

Crypto markets will absorb around $630.2 million in token unlocks this week.
Succinct will release 208.33 million PROVE, more than its current released supply.
Hyperliquid and Ethena unlocks add $22.74 million and $15.36 million respectively.

The crypto market will welcome tokens worth around $630.2 million in the first week of August 2026. Major projects, including Hyperliquid (HYPE), Succinct (PROVE), and Ethena (ENA), will release significant new token supplies.

These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.

1. Hyperliquid (HYPE)

Unlock Date: August 6
Number of Tokens to be Unlocked: 433,000 HYPE
Released Supply: 454.99 million HYPE
Total Supply: 1 billion HYPE

Hyperliquid is a leading decentralized perpetual futures exchange built on its own Layer-1 blockchain. It offers high-performance trading with low latency, on-chain order books, and sub-second transaction finality.

On August 6, the team will unlock 433,000 HYPE worth $22.74 million. The tokens account for 0.19% of the released supply.

HYPE Crypto Token Unlock in August. Source: Tokenomist

The team has allocated the unlocked supply to core contributors. Tokenomist pointed out that HYPE has historically claimed far fewer tokens than its projected unlock amounts.

2. Succinct (PROVE)

Unlock Date: August 5
Number of Tokens to be Unlocked: 208.33 million PROVE
Released Supply: 200 million PROVE
Total Supply: 1 billion PROVE

Succinct is a zero-knowledge proof infrastructure project built around SP1, a zkVM that lets developers generate ZK proofs from ordinary Rust code without custom cryptography. The Ethereum-based PROVE token handles payments, staking, and governance.

The team will release 208.33 million tokens on August 5. The tokens are worth $34.7 million. The unlock exceeds the token’s entire released supply, representing 104.17% of tokens currently on the market.

PROVE Crypto Token Unlock in August. Source: Tokenomist

Succinct will split the supply five ways. The network will direct 83.33 million tokens towards the ecosystem and research and development. Contributors and investors will get 73.75 million tokens and 26.25 million tokens, respectively.

In addition, the team will allocate 16.67 million PROVE to public allocation and incentives. Finally, the Succinct Foundation will get 8.33 million tokens.

3. Ethena (ENA)

Unlock Date: August 5
Number of Tokens to be Unlocked: 171.88 million ENA
Released Supply: 8.73 billion ENA
Total Supply: 15 billion ENA

Ethena is a synthetic dollar protocol built on Ethereum (ETH). The protocol’s flagship product is USDe, a synthetic dollar stablecoin. Furthermore, ENA is the protocol’s governance token.

The team will release 171.88 million ENA tokens on August 5. The tokens, worth $15.36 million, account for 1.97% of the released supply.

ENA Crypto Token Unlock in August. Source: Tokenomist

Ethena will award the 93.75 million tokens to core contributors. In addition, the investors will receive 78.13 million ENA.

In addition to these three, Opinion (OPN), BounceBit (BB), and Momentum (MMT) will also experience new supply entering the market in the first week of August.

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