The cryptocurrency market will welcome over $566 million in tokens in the last week of November 2025. Several major projects are set to release significant new token supplies, including Hyper Liquid (HYPE), Plasma (XPL), and Jupiter (JUP).
These unlocks can cause market volatility and affect price movements in the short term. Here’s a breakdown of what’s notable about each project:
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1. Hyper Liquid (HYPE)
Unlock date: November 29th Number of tokens unlocked: 9.92 million HYPE (0.992% of total supply) Current circulating supply: 270.77 million HYPE Total supply: 1 billion HYPE
Hyperliquid is a leading decentralized perpetual futures exchange built on a proprietary layer 1 blockchain. It offers high-performance trading with low latency, on-chain order book, and sub-second transaction finality.
On November 29th, the project will release 9.92 million tokens worth approximately $327.35 million. This represents 2.66% of the currently released supply.
Hyperliquid will distribute all unlocked tokens to core contributors.
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2. Plasma (XPL)
Unlocking date: November 25th Number of tokens unlocked: 88.89 million XPL (0.89% of total supply) Current circulating supply: 1.88 billion XPL Total supply: 10 billion XPL
Plasma is a layer 1 blockchain platform built to enhance the efficiency and scalability of stablecoin transactions. This enables zero-fee USDT transfers, enables the use of custom gas tokens, supports confidential payments, and provides the throughput needed for global deployments.
Plasma will unlock 88.89 million XPL on November 25th. The value of the token is $17.53 million. Additionally, they account for 4.74% of the current circulating supply.
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The team will allocate all of the 88.89 million XPL to the ecosystem and growth.
3. Jupiter (JUP)
Unlocking date: November 28th Number of tokens to be unlocked: 53.47 million JUP (0.53% of total supply) Current circulating supply: 3.2 billion JUP Total supply: 10 billion JUP
Jupiter is a decentralized liquidity aggregator on the Solana (SOL) blockchain. We optimize trading routes across multiple decentralized exchanges (DEXs) to provide users with the best price for token swaps with minimal slippage.
On November 28th, Jupiter will unlock 53.47 million JUP tokens. The supply value is approximately $12.83 million, or 1.69% of the circulating supply. Additionally, this unlock follows a monthly cliff vesting schedule.
Jupiter will primarily allocate tokens to teams, who will earn 38.89 million JUP. Additionally, Mercurial stakeholders will receive 14.58 million JUP altcoins.
In addition to these, other notable unlocks that investors can look out for in the last week of November include Artificial Superintelligence Alliance (FET), Aerodrome Finance (AERO), IOTA (IOTA), and various altcoins, contributing to market-wide releases.
