The turkey might be roasting, but crypto markets won’t get a complete break this Thanksgiving. Three blockchain projects are set to release approximately $28 million worth of tokens into circulation, potentially creating volatility despite the holidays.
Worldcoin Faces Bigger Problems Than Token Release
Sunday marks the beginning of a week-long token distribution schedule for Worldcoin, with 5.02 million WLD tokens hitting the market daily from November 23 through November 28. Each daily unlock carries a value of approximately $3.07 million, representing just 0.05% of the total supply—or about 0.21% of the market cap. The consistency of these releases, totaling roughly 30.12 million tokens worth $18.42 million across six consecutive days, makes them essentially negligible for price action despite the steady drip of new supply entering circulation.
Worldcoin, co-founded by OpenAI’s Sam Altman, aims to create a global identity and financial network through biometric verification. The WLD token serves as the native cryptocurrency for this ambitious project, distributed to verified users who scan their irises using the company’s distinctive silver “Orb” devices.
The company is facing regulatory issues. For instance, Colombian authorities have asked the platform to stop its operations, as advocates of privacy and also officials are questioning how Worldcoin collects, stores, and protects biometric data. Thailand and the Philippines have already imposed similar restrictions on the platform. Markets seem to be more focused on whether the project can navigate the scrutiny rather than on modest token releases.
Plasma Delivers Week’s Heaviest Impact
November 25 brings the week’s most substantial event: Plasma releases 88.89 million XPL tokens worth $18.33 million. Representing nearly 5% of market capitalization, this unlock
This Layer 1 blockchain enables users to send USDT without fees and integrates with Ethereum-based applications. It’s trying to challenge Tron, which is currently the top network for stablecoin payments. Plasma launched with a huge $2 billion in liquidity and quickly grew to $5.5 billion locked on the platform.
Yet XPL has plummeted 88% from its September launch price of $1.54 to current levels around $0.20. Monthly unlocks continue pressuring prices as 32% of the total supply gradually enters circulation through September 2028.
Hyperliquid’s Saturday Warmup
On November 29, a small batch of 214,199 HYPE tokens (worth about $6.8 million) will be released. This is just a kickoff to something big: a massive ~238 million HYPE tokens will start unlocking gradually over the next 2 years — meaning roughly 10 million new tokens enter the market every month, worth around $320 million at the current $32 price.
Hyperliquid runs its own super-fast blockchain and the world’s biggest crypto trading platform for futures. The protocol directs 93% of revenue toward HYPE buybacks, accumulating $1.5 billion in repurchase capacity. Trading near $31.60 after touching $50 in August, HYPE faces sustained pressure from upcoming unlocks despite strong fundamentals and buyback support.
The token is now around $32 (down from $58). Even with strong profits and buybacks, the new tokens coming in every month will likely keep the price under pressure for a while.
