February’s $2B token unlock is here – ZRO, ASTER, BERA in the lead

ambcryptoPublicado em 2026-02-04Última atualização em 2026-02-04

Resumo

February is set to see over $2 billion in token unlocks, presenting a major supply test for the crypto market. While some tokens face selling pressure, others are showing resilience. Rain (RAIN) leads with a $359 million unlock, followed by Zama (ZAMA), LayerZero (ZRO), and Aster (ASTER). Mid-cap tokens like Berachain (BERA) also have significant unlocks relative to their market size. Notably, Hyperliquid (HYPE) defied expectations by surging nearly 30% despite its large unlock, driven by strong demand from new perpetual markets and exchange listings. In contrast, Story (IP) delayed its unlock by six months to reduce sell pressure and align long-term incentives. The market is beginning to differentiate projects based on fundamentals, timing, and team discipline.

February is bringing a supply test to crypto.

More than $2 billion in token unlocks are scheduled this month, but some price actions say the market is starting to differentiate. Some tokens are struggling, while others are holding firm.

Here’s the rundown.

A crowded unlock calendar

February is set to be a heavy month for token supply, with roughly $2 billion worth of unlocks scheduled across major projects.

According to CryptoRank data, Rain [RAIN] leads the list with over $359 million in tokens set to enter circulation, followed by Zama [ZAMA], LayerZero [ZRO], and Aster [ASTER].

Several mid-cap tokens are also set for meaningful unlocks relative to their market size, including Berachain [BERA] and Stable [STABLE].

With multiple tokens unlocking within days of each other, traders will be closely watching to see how prices react.

Hyperliquid, the standout

Despite recording the largest unlock by dollar value this week, Hyperliquid [HYPE] surged nearly 30%, defying typical supply-driven pressure.

The launch of HIP-3 opened the door to permissionless perpetual markets, pushing trading volume and OI to record highs near $1.1 billion.

Demand was also supported by a Kraken listing and HYPE’s addition to Coinbase’s listing roadmap.

Importantly, the team also reduced near-term sell risk, confirming that only a small portion of team tokens will be claimed in the coming months.

And as for what didn’t happen...

While some projects are pushing through unlocks as scheduled, Story [IP] has taken a different route.

The decision to delay the IP token unlock by six months takes the event from February to August, without changing ownership, allocations, or total supply.

By postponing the unlock, Story reduces sell pressure while the network scales. It keeps team and investor incentives aligned with users for longer, giving the protocol more room to build.

It seems like the newcomer is prioritizing long-term health over all else.


Final Thoughts

  • February’s $2B token unlock wave is separating the best from the rest.
  • HYPE’s rally and Story’s delayed unlock prove that timing, revenue, and discipline matter.

Criptomoedas em alta

Perguntas relacionadas

QWhat is the total value of token unlocks scheduled for February according to the article?

AMore than $2 billion in token unlocks are scheduled for February.

QWhich token leads the list with the highest value of tokens set to enter circulation in February?

ARain [RAIN] leads the list with over $359 million in tokens set to enter circulation.

QDespite having a large unlock, which token surged nearly 30% and what were the key reasons for its price increase?

AHyperliquid [HYPE] surged nearly 30%. The price increase was driven by the launch of HIP-3 enabling permissionless perpetual markets (boosting trading volume and open interest), a Kraken listing, addition to Coinbase's listing roadmap, and reduced near-term sell risk as the team confirmed only a small portion of tokens would be claimed soon.

QHow did the Story [IP] project handle its scheduled token unlock, and what was the rationale behind this decision?

AStory [IP] delayed its token unlock by six months, moving it from February to August. The decision was made to reduce sell pressure while the network scales, keep team and investor incentives aligned with users for longer, and give the protocol more room to build, prioritizing long-term health.

QWhat does the article suggest is the key factor separating the best performers during the unlock wave?

AThe article suggests that timing, revenue, and discipline are the key factors, as demonstrated by HYPE's rally and Story's delayed unlock.

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