The short version
- Token unlocks this week add up to about $319 million across eight tokens, led by Bitway (101.6 million BTW, $111.8 million) on November 2 and Kite (640 million KITE, $74.6 million) on November 3.
- Hyperliquid’s schedule shows 9.92 million HYPE ($873 million) on November 6, but Tokenomist counts only $15.8 million as committed, and Momentum’s 252.7 million MMT is bigger than its whole circulating supply.
- Next: Tuesday, when KITE sits just above $0.1107 support going into its first cliff since launch. We’ll post how it trades on Base Camp on X.
Token unlocks this week add up to about $319 million across eight tokens, four times last week’s total. Bitway’s BTW leads on Monday with $111.8 million. Kite’s KITE follows on Tuesday with its first big tranche since launch, and Momentum’s MMT on Wednesday is larger than its whole circulating supply.
That total leaves out the biggest number on the calendar. Hyperliquid’s schedule shows 9.92 million HYPE for core contributors on Friday, about $873 million at $88. The team has never released anything close to the full amount. In the 30 days to October 22, it took 3.75 million HYPE out of staking, and one analyst counted where it went:
$HYPE Unlocked 5x More Than It Bought Back.
I checked the last 30 days, and the numbers are pretty wild.
> Assistance Fund bought ~769K $HYPE ($66M)
> Team released 3.75M HYPE from staking
> Almost 5x the buyback amount
But here's what happened to those 3.75M tokens.
The team
So the week is one paper giant and a handful of real ones. What unlocks, who gets it, and how did these tokens trade the last time?
Token Unlocks This Week: Every Date at a Glance
Dates, sizes and shares of released supply come from Tokenomist; the values use prices at the time of writing. MemeCore and Stable are not on Tokenomist’s calendar, so they come from DefiLlama’s unlock schedules, with the share of circulating supply. These are one-off tranches over $3 million; tokens that drip out every day are left out.
Trackers disagree more than usual this week. Tokenomist shows no STABLE unlock until March 2027, while DefiLlama has 888.9 million STABLE landing on Sunday, as it has on or around the 8th of every month since August.
Sponsored · Affiliate link
Save 20% on fees trading on WEEX
Base Camp may earn a commission if you sign up. It never affects what we write.
How Did These Tokens Trade at Their Last Unlock?
Four of the five fell in the week after their last token unlock, but only two did worse than Bitcoin. Last week five of the six biggest lagged it, so this time there is no clean pattern.
HYPE was the outlier, down 14.0% in the week after October 6 while Bitcoin lost 4.6%. BTW and AVAX slipped less than Bitcoin, and STABLE rose 5.0%. Kite and Momentum have no comparable tranche to look back on: this week is their first.
Unlocked doesn’t mean sold, and five tokens is a small sample.
Bitway: The Biggest Tranche That Isn’t on Paper
Bitway releases 101.6 million BTW on Monday at 08:00 UTC, about $111.8 million at $1.10. It is the fourth monthly tranche of the same size, 3.37% of the BTW already released, on the 2nd of every month since August.
What changed is the price. The August tranche was worth $9.2 million and October’s $144.3 million, on Tokenomist’s numbers, because BTW ran from about $0.06 in early July to a peak near $2.43. It now trades 55% below that peak and 22% below its October 2 unlock price.
Who gets the coins is less clear. Tokenomist splits the tranche across two groups and names the team and backers in different places on its BTW page, while other trackers list community and ecosystem tokens. Insider vesting usually starts with a cliff of a year or more, so read the recipients as unconfirmed until the wallets move.
Kite: One Year After Launch, the First Big Cliff
Kite releases 640 million KITE on Tuesday at 13:00 UTC, about $74.6 million. That is 17.4% of the KITE already released and about a quarter of the 2.39 billion that CoinGecko counts as circulating.
The date is the first anniversary of KITE’s launch on November 3, 2025, when the one-year cliff for its team and investors started. Tokenomist marks the tranche “pending verification” and lists two groups. Other trackers count anywhere up to 1.11 billion KITE, and one puts the date at November 1, so the size could still change.
Kite holds 20% of its 10 billion supply for the team, advisors and early contributors and 12% for investors. Whatever the final size, it is the first insider tranche since launch.
SIDE TRAIL: Market Cap, Supply and Why “Cheap” Coins Aren’t Cheap
Momentum, MemeCore, HYPE, Stable and AVAX
Momentum (MMT), November 4. 252.7 million MMT, about $32.6 million, on the first anniversary of the Sui DEX’s token. Tokenomist puts it at 294% of the MMT released so far, and it is still more than the roughly 204 million that CoinGecko counts as circulating. Tokenomist flags the schedule as estimated, not confirmed. MMT trades at $0.129, close to its lowest price in four months.
MemeCore (M), November 2. 56.1 million M, about $50.5 million, split across community, investors, foundation and team. It is the same size as in August, September and October, about 2.5% of the M in circulation.
Hyperliquid (HYPE), November 6. The 9.92 million HYPE on the schedule is worth $873 million, but Tokenomist now tracks HYPE in three stages: the whitepaper estimate, the team’s announcement and the claim onchain. It counts only $15.8 million for November as committed so far. In October, $344.8 million went out against $933.8 million on paper.
Stable (STABLE), November 8. 888.9 million STABLE, about $23.4 million, from the ecosystem and community pool on DefiLlama’s schedule, around 4.9% of circulating supply.
Avalanche (AVAX), November 8. 1.67 million AVAX, about $14.5 million, to the foundation. The same tranche lands every quarter and is 0.3% of supply.
TRAIL MAP: HYPE Unlock on November 6: $765M on Paper. Can Buybacks Absorb It?
KITE Price Analysis: Can $0.11 Hold Into Its First Cliff?
KITE goes into Tuesday just above support. It trades at $0.1169 at the time of writing, 23% below its October 1 close, after a wick to $0.1014 on October 30 was bought back within the day.
Overhead, resistance at $0.1255 sits right on the 50-day MA at $0.1250, and KITE has not closed above that line since October 13. The 200-day MA is higher still, at $0.1389.
In the bull case, a daily close above $0.1255 after the unlock shows the market took the first insider tranche in its stride.
In the base case, KITE chops between $0.1107 and $0.1255 through the week.
In the bear case, a daily close below $0.1107 puts the October 30 low at $0.1014 back in play.
Of all the token unlocks this week, Tuesday’s is the one with no history behind it. If KITE holds $0.11 through its first cliff, the market will have priced it in early. If not, Momentum’s even larger tranche lands the next morning.
Satoshi Flipper has more than 20 years of trading experience, starting in stocks before moving into crypto in 2017, and holds an MBA from the Kellogg School of Management. The edge is reading the economic data: rate decisions, inflation, jobs numbers, earnings and the US markets that move Bitcoin.
More from Satoshi Flipper
