In the first week of May 2025, around $621.4 million worth of new cryptocurrency tokens will become available. Several large projects, such as Hyperliquid (HYPE), Ethena (ENA), and RedStone (RED), are planning substantial token releases.
Releasing these tokens could cause some fluctuations in the market and affect prices in the short term. Here’s a closer look at what you should keep an eye on.
1. Hyperliquid (HYPE)
- Unlock Date: May 6
- Number of Tokens to be Unlocked: 422,000 HYPE
- Released Supply: 425.24 million HYPE
- Total Supply: 1 billion HYPE
Hyperliquid is a top decentralized platform for trading perpetual futures. It operates on its own dedicated blockchain, providing fast and efficient trading with minimal delays. All orders are recorded directly on the blockchain, and transactions are confirmed in under a second.
The team will release $17.5 million worth of HYPE tokens—a total of 422,000—on May 6th. This represents 0.18% of all HYPE tokens currently available.
The team distributed the available tokens to its key contributors. Tokenomist also noted that HYPE usually reports claiming significantly fewer tokens than initially expected when tokens are unlocked.
2. Ethena (ENA)
- Unlock Date: May 5
- Number of Tokens to be Unlocked: 171.88 million ENA
- Released Supply: 8.09 billion ENA
- Total Supply: 15 billion ENA
Ethena is a system, built on Ethereum, that creates a digital dollar. Its main product, USDe, is a stablecoin designed to maintain a value of one dollar. ENA is the token used to govern and make decisions about the Ethena system.
On May 5th, the team will release $17.28 million worth of ENA tokens, totaling 171.88 million. This represents 2.12% of the total tokens currently in circulation.
Ethena will distribute 93.75 million tokens to its core team members, and investors will receive an additional 78.13 million ENA tokens.
3. RedStone (RED)
- Unlock Date: May 6
- Number of Tokens to be Unlocked: 40.85 million RED
- Released Supply: 334.94 million RED
- Total Supply: 1 billion RED
RedStone is a system that securely brings real-world data to smart contracts and DeFi apps on various blockchains. It’s built with flexible, interchangeable components, making it adaptable and reliable.
On May 6th, the team will release 40.85 million tokens, valued at $5.54 million. This represents 12.2% of the total tokens currently in circulation.
As I understand it, the team is dividing the newly available tokens into four portions. Our early supporters will receive 26.42 million tokens, and our core contributors will be allocated 5.56 million RED.
The team will also distribute 5.54 million altcoins to support the ecosystem and those who provide data. Finally, 3.33 million tokens will be used to improve the protocol itself.
Besides those already mentioned, Space and Time, Opinion, and BounceBit will all have new tokens released into circulation during the first week of May.
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2026-05-04 10:16