Weekly Unlock Digest: Aug 3-9, 2026 | $PROVE's cliff unlock is set to double its float
🔑 Key Takeaways
- $PROVE's August 5 unlock, at 104.17% of circulating supply, is one of the largest single-day supply expansions of 2026, marking the end of the project's 12-month post-TGE cliff.
- Hyperliquid's August 6 release is structurally modest: the team's committed claim of $22.65M represents just 0.11% of unlocked supply, well below the full whitepaper schedule.
- July closed with ETH up 18% and BTC up 7%, outperforming every major traditional asset class.
Weekly Recap
Crypto quietly outperformed every major risk asset in July. Ethereum gained 18% and Bitcoin about 7%, against a Nasdaq 100 down ~9% and chip stocks down more than 20%. Sentiment, however, has not followed price. The Crypto Fear & Greed Index sat at 28 ("Fear") even as ETH printed its monthly gain, and positioning turned defensive into month-end. Spot Bitcoin ETF inflows echo the caution, falling from a weekly peak of $197.4M in early July to $33.8M by July 24, an 83% decline.
On the macro side, the Fed left rates unchanged for the fifth consecutive meeting on July 29, voting 9-3 to hold the benchmark rate at 3.50%–3.75%, with three members dissenting in favor of a hike. The hawkish tilt in dissents adds a layer of uncertainty for risk assets heading into the seasonally soft month.
Buyback Watch: Top 5 Token Buybacks
Over the past 7 days, the largest buybacks were led by $HYPE, followed by $PUMP, $LINK, $ASTER, and $LIT — roughly $13.6M in combined repurchases. Notably, $HYPE appears on both sides of this week's ledger: its ongoing daily buybacks, running at more than $7.5M per week, partially counterweight the August 6 team release of $22.65M, keeping net supply pressure below the headline unlock figure.
Upcoming Events
Next week’s scheduled token releases are set to exceed $630 Million in total value. Top tokens facing the largest cliff unlocks next week include $PROVE, $HYPE, $ENA, $OPN, and $MOVE.
Unlock Spotlight: $PROVE (Succinct)
- Unlock date: August 5, 2026
- Unlock amount: $35.22M
- Unlock as % cir. supply: 104.17%
- Vested allocation: Community, Founder/Team, Private Investors, and Reserve
This unlock marks the end of Succinct's 12-month post-TGE cliff and will more than double the token's circulating supply in a single day. Prior to the event, roughly 20% of total supply had been unlocked, making this one of the most dilutive single-day releases of 2026 relative to float.
The supply expansion arrives at a time of growing protocol relevance: Succinct was selected in February to handle ZK proving for the OP Stack, covering Base, Unichain, and Ink — approximately 90% of the rollup market by total value secured.
On one hand, the release finally aligns founders, private investors, and the community with liquid ownership after a full year of lockup. On the other, a 104% single-day float expansion introduces meaningful overhang risk, particularly given the token's concentrated holder base and thin float-to-FDV ratio heading into the event.
$HYPE (Hyperliquid) Continues Its Monthly Release
Hyperliquid's unlock cycle continues on August 6 with a release valued at $22.65M — just 0.11% of unlocked supply. Notably, this figure reflects the amount the Hyperliquid team has committed to claim, not the full scheduled whitepaper unlock, continuing the team's pattern of claiming substantially less than the maximum allowed under its vesting schedule. Combined with the protocol's ongoing daily buybacks, the net new supply reaching the market remains limited relative to the headline schedule.
Notable Tokenomics Updates
Stacks (STX) — SIP-045 Passes With 99% Support
Stacks holders approved SIP-045, a Bitcoin staking upgrade, with 99% of the vote. The proposal introduces a native Bitcoin staking mechanism, with a public testnet already live and a "Genesis Bond" targeted for late August. The bootstrap phase caps capacity at 3,000 BTC, managed by the Stacks Endowment with whitelisted partners and about 10% open to pools.
The supply-side detail worth noting: SIP-045 also reverses April's emissions cut, restoring the STX coinbase to 1,000 STX per Bitcoin block from 500. This is a meaningful supply increase bundled with the staking mechanism — the higher emissions fund the new BTC staking rewards, but they also unwind a reduction the network had only recently implemented. The change introduces new supply dynamics for STX: whether the added utility from Bitcoin staking offsets the doubled block emissions will depend on adoption of the Genesis Bond and subsequent staking capacity expansions.
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