Token Unlocks You Shouldn’t Miss in the Coming Days
The final week of November 2025 is shaping up to be particularly eventful for the cryptocurrency market. Three major projects—Hyperliquid, Plasma, and Jupiter—are preparing large-scale token unlocks that will inject over half a billion dollars in new liquidity. These scheduled unlocks always represent a critical moment when available supply increases sharply, often creating selling pressure and heightened volatility.
For investors and traders, understanding the structure of these unlocks becomes essential. The impact on price action depends on several factors: the percentage inflation of circulating supply, the allocation of unlocked tokens, and overall market sentiment. Let’s analyze these three unlocks that deserve your attention.
Hyperliquid: A $327 Million Unlock That Raises Concerns
On November 29, Hyperliquid will release 9.92 million HYPE token, with an estimated value of $327.35 million. This impressive figure represents 2.66% of the currently circulating supply and 0.992% of the maximum total supply fixed at 1 billion tokens.
Hyperliquid positions itself as a decentralized exchange for perpetual contracts built on its own Layer-1 blockchain. The platform promises high-performance trading with minimal latency, on-chain order books, and transaction finality in seconds. These technical characteristics attract institutional traders seeking the efficiency of centralized platforms with the guarantees of decentralization.
The major point of concern relates to the destination of these tokens: the entirety of the 9.92 million HYPE will go to the project’s core contributors. This concentration among early backers could generate significant selling pressure if these holders decide to take profits. With a current circulating supply of 270.77 million tokens, this addition represents a non-negligible instantaneous inflation that could weigh on the current support level.
Plasma and Jupiter: Two More Modest but Strategic Unlocks
Plasma will unlock 88.89 million XPL tokens on November 25, valued at $17.53 million. This amount represents 4.74% of the current circulating supply of 1.88 billion tokens. The specialized Layer-1 platform for stablecoin transactions will allocate all of these tokens to ecosystem and growth, a signal generally perceived positively by the market.
Jupiter, the leading liquidity aggregator on Solana, will release 53.47 million JUP tokens on November 28. Valued at approximately $12.83 million, these tokens represent 1.69% of its circulating supply. The allocation is divided between the project team (38.89 million JUP) and Mercurial holders (14.58 million JUP). This unlock is part of a gradual monthly vesting schedule, which dilutes its impact compared to a massive one-time unlock.
Other projects such as Artificial Superintelligence Alliance, Aerodrome Finance, and IOTA will also join the list of unlocks this week, potentially amplifying effects on overall market volatility.
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