September 2026's First Week Brings Major Token Unlocks

Token releases valued at roughly $1.5 billion are expected in the crypto market during the first week of September 2026. Among the projects making these releases are Hyperliquid (HYPE), Ethena (ENA), and Sui (SUI).

The unlock events may lead to market volatility and affect short-term pricing. Below is a breakdown of the key releases.

1. Hyperliquid (HYPE)

• Date of unlock: September 6
• Tokens to be unlocked: 9.92 million HYPE
• Supply at release: 464.91 million HYPE
• Total token supply: 1 billion HYPE

Hyperliquid operates as a decentralized perpetual futures exchange on its own Layer-1 blockchain. The platform provides high-performance trading characterized by low latency, on-chain order books, and transaction finality in under a second.

The team may unlock 9.92 million tokens on September 6, valued at $797 million. Tokenomist indicated this amount is a long-range estimate. The tokens represent 2.37% of the released supply.

The unlocked tokens are destined for core contributors. Tokenomist observed that HYPE has historically taken far fewer tokens than the projected unlock figures.

2. Sui (SUI)

• Unlock date: September 1
• Tokens to be unlocked: 13.53 million SUI
• Supply at release: 4.08 billion SUI
• Total token supply: 10 billion SUI

Sui is a blockchain focused on high performance, offering scalability, low latency, and a framework for decentralized applications (dApps). The platform also features an object-centric data model and the Move programming language, aiming to resolve inefficiencies in current blockchain designs.

The network will release 13.53 million SUI on September 1, maintaining its pattern of cliff unlocks at the start of each month. These tokens, valued at $9.73 million, make up 0.33% of the current released supply.

The unlocked altcoins will be divided three ways. Early Contributors will receive 7.47 million tokens, Community Reserve will get 4 million tokens, and Mysten Labs Treasury will obtain 2.07 million SUI.

3. Ethena (ENA)

• Unlock date: September 2
• Tokens to be unlocked: 40.63 million ENA
• Supply at release: 8.9 billion ENA
• Total token supply: 15 billion ENA

Ethena is a synthetic-dollar protocol operating on Ethereum (ETH). Its main product is USDe, a synthetic-dollar stablecoin, while ENA serves as the protocol's governance token.

On September 2, the team will release 40.63 million ENA tokens. Valued at $6.05 million, these tokens represent 0.46% of the released supply.

The entire unlock supply will be granted to the Foundation.

Besides these three projects, EigenCloud (EIGEN), Gunz (GUN), and GoPlus Security (GPS) will also see new token supply enter the market during the first week of September.