Top 5 Token Unlocks in January 2026: $5.5B Supply Wave as ONDO Leads the Market
January 2026 is shaping up to be a critical month for crypto supply dynamics, with more than $5.5 billion worth of tokens scheduled to unlock. A large portion of this incoming supply is concentrated among a handful of projects, raising questions around short-term volatility, sell-side pressure, and how markets typically absorb large unlock events.
The month’s unlock calendar is dominated by Ondo (ONDO), Bitget Token (BGB), Hyperliquid (HYPE), and Official Trump (TRUMP). Together, these four projects account for approximately $1.94 billion in unlock value, representing around 35% of January’s total scheduled releases. While dozens of smaller unlocks will take place throughout the month, these headline events are expected to drive the majority of market attention.
How January’s Token Unlocks Are Structured
Not all token unlocks hit the market the same way. January’s $5.5 billion supply increase is split between two primary mechanisms.
Approximately $2.5 billion worth of tokens will be released through cliff unlocks, where large allocations become tradable at once. These events often create short-term price pressure, particularly when tokens are allocated to teams, founders, or early investors.
Another $3 billion will enter circulation through linear unlocks, which distribute tokens gradually over time. While linear releases tend to soften immediate market impact, they still contribute to sustained supply expansion throughout the month.
Where January’s Largest Token Releases Could Shift Market Supply
Ondo (ONDO) leads January’s unlock schedule by a wide margin. Around 1.9 billion ONDO tokens are set to unlock in mid-January, marking the largest single release of the month by both token quantity and dollar value. With ONDO trading near $0.45, the unlock carries an estimated valuation of $850–$900 million, depending on market conditions at the time. The allocation spans founders, core team members, community incentives, and early private investors, making it a closely watched supply event.
Bitget Token (BGB) follows with a major cliff unlock later in the month. Roughly 140 million BGB tokens are scheduled to unlock around January 26. At a price near $3.50, the release is valued at close to $490 million. According to allocation data, 80 million tokens are assigned to the team, while 60 million tokens are earmarked for branding, ecosystem development, and promotional initiatives, which could influence how quickly the unlocked supply reaches the market.
Hyperliquid (HYPE) has one of the earliest significant unlocks in January. About 12.46 million HYPE tokens are expected to unlock around January 6. With HYPE trading in the $26–27 range, the unlock is valued at roughly $325–$335 million. Official Trump (TRUMP) is scheduled for a sizable cliff unlock in the second half of the month. Approximately 50 million TRUMP tokens are set to unlock around January 18. At an estimated price of $5.40, the release is valued at around $270 million. The allocation is primarily directed to founders and team members, a structure that often draws scrutiny due to potential short-term sell pressure.
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Additional Unlocks to Watch in Early January
Beyond the headline events, January also features several mid-sized unlocks that contribute to the broader supply picture. For the period between January 5 and January 12 alone, total scheduled cliff unlocks exceed $650 million.
Ethena (ENA): Around 171.88 million ENA unlock on January 5, valued at ~$43 million at an estimated price of $0.25 per token.
Hyperliquid (HYPE): Approximately 12.46 million HYPE unlock on January 6, worth ~$330 million at an estimated price of $26.50.
Aptos (APT): About 11.31 million APT unlock around January 11, valued at ~$22 million at a price near $1.95.
Arbitrum (ARB): Roughly 92.6 million ARB unlock in mid-January, worth ~$80 million at an estimated price of $0.86.
Starknet (STRK): Over 120 million STRK tokens unlock in early January, valued at ~$150 million at a price near $1.25.
LayerZero (ZRO): Around 25.7 million ZRO unlock during early January, worth ~$92 million at an estimated price of $3.60.
What This Means for the Market
January’s unlock calendar highlights a familiar pattern: token unlocks do not guarantee price declines, but they do increase supply risk, especially around large cliff events. Market reaction often depends on a combination of factors, including liquidity conditions, broader market sentiment, and whether unlocked tokens are distributed or held.
With ONDO, BGB, HYPE, and TRUMP accounting for over a third of the month’s unlock value, these projects are likely to remain in focus throughout January as traders monitor how the market absorbs the new supply.









