Hyperliquid’s $416M cliff leads $621.7M in May 4–11 unlocks

Token unlocks totaling $621.66 million are scheduled for May 4–11, with $473.29 million issuing as cliff releases and the remainder distributed via linear vesting, CoinGecko data shows. The largest single event is Hyperliquid’s HYPE, which has a $416.01 million cliff release that represents roughly 67% of the week’s total and 4.16% of adjusted released supply.

Ethena’s ENA is the second-largest cliff at $18.11 million, equal to 1.96% of its adjusted released supply. Space and Time’s SXT follows with a $6.13 million cliff release representing 14.92% of its adjusted released supply. RedStone’s RED will release $5.76 million at 10.92%, and Opinion’s OPN will unlock $5.56 million at 22.59%.

Linea’s cliff release is $4.98 million, equal to 5.54% of adjusted released supply. Babylon’s BABY has a $2.80 million cliff at 3.52%. Solayer’s LAYER will release $2.30 million at 12.87%. io.net’s IO is set for $1.61 million at 4.02%, and Magic Eden’s ME rounds out the named cliff events at $1.12 million, or 2.13%.

Cliff releases are token distributions that occur in a single tranche after a set vesting period. Linear vesting releases tokens gradually over a defined schedule. CoinGecko’s calendar lists both types for the May 4–11 window.

Several smaller projects also have scheduled vesting windows during the period. REVOX (REX) plans a next unlock of 34.38 million tokens valued at $1,712.66, equal to 1.15% of its total locked supply, with unlock progress at 68.44%. Drift (DRIFT) shows a next unlock of 13.16 million tokens valued at about $516,503, equal to 1.32% of locked supply and an unlock progress of 18.58%.

SLIMEX (SLX) schedules a next release of 145.83 million tokens valued at roughly $250,170, equal to 1.46% of locked supply and an unlock progress of 24.90%. SIPHER’s upcoming unlock totals 15,070,000 tokens valued at about $110,921, or 1.51% of locked tokens, with a 46.96% unlock progress. MATTLE (MATTLE) will release 1,110,000 tokens valued around $11,164, equal to 2.22% of its locked supply.

The scheduled amounts and percentages reflect each project’s tokenomics and vesting agreements. All figures in this report are drawn from CoinGecko’s unlock calendar for May 4–11 and include adjusted released supply percentages where available.