Hyperliquid's Weekly Token Unlock Tops $800M

Weekly token unlocks highlight sizable releases from EigenLayer, Hyperliquid and Ethena. EigenLayer - Unlocked this round: 36.82 million tokens (about $7.07 million) - Overview: EigenLayer is an Ethereum-based protocol that introduces "restaking" as a new cryptoeconomic security primitive. It allows staked ETH to be restaked via EigenLayer's smart contracts, extending Ethereum-grade security to other applications. - Unlock schedule: Details released by the project. Hyperliquid - Unlocked this round: 9.91 million tokens (about $820 million) - Overview: Hyperliquid is a high-performance blockchain aiming to build a fully on-chain open finance system. Liquidity, applications and trading activity run on a unified platform designed to support a broad range of financial operations. - Unlock schedule: Details released by the project. Ethena - Unlocked this round: 210 million tokens (about $33.94 million) - Overview: Ethena Labs' algorithmic stablecoin USDe uses collateral such as BTC and stETH and associated yields, while taking short positions in Bitcoin and ETH to hedge delta. It also uses perpetual/futures funding rates to help maintain the peg and generate yield, offsetting short-position losses with spot yield while retaining ETH staking rewards and funding-rate income. - Unlock schedule: Details released by the project.