🔑 Key Takeaways

• $HYPE's $337M October 6 unlock (1.69% of unlocked supply) is earmarked for one institutional buyer via OTC, which could limit immediate order-book pressure, though no holding period has been disclosed.
• BTC briefly cleared $86K on a softer US jobs print, with dominance approaching 60%.
• Aave's burn discussion and Cronos' approved revenue-to-burn model both point toward permanent supply removal rather than reserve accumulation.
• Blast's L2 shutdown leaves the BLAST token without a disclosed plan once the October 26 withdrawal window closes.

Weekly Recap

Bitcoin briefly moved above $86,000 intraday on Friday, October 2, after a weaker-than-expected US jobs report, as traders leaned toward a Fed hold rather than a hike at the October 27-28 meeting. On the macro side, the US 10-year Treasury yield still closed Friday at 5.28%, up from 5.24% the day before.

Flows tell a more mixed story. Spot BTC ETFs took in $6.3B in Q3 but are up only about $1B for 2026. Glassnode data shows holders who bought last year's rally selling as price nears their break-even.

Among notable movers, AAVE rose about 11% on September 29 after its founder raised the possibility of a token burn. BLAST sat at the other end, falling sharply after Blast announced it would shut down its L2.

Top Buybacks of the Week

Compared with the prior week, $HYPE's buybacks eased from $14.81M while $PUMP's rose from $3.80M. $LIT re-entered the top five, replacing $RAY.

Upcoming Events

Next week’s scheduled cliff unlocks total about $399 Million in value, counting $HYPE at its committed claim. Dollar figures are marked at October 4, 2026. Top tokens facing the largest cliff unlocks next week include $HYPE, $ENA, $APT, $IO, and $BABY.

Unlock Spotlight: $HYPE

• Unlock date: October 6, 2026
• Unlock amount: $336.75M
• Unlock as % of unlocked supply: 1.69%
• Vested allocation: Core Contributors

The figure reflects the amount Hyperliquid's team has committed to claim, not the full scheduled whitepaper unlock of 9.92M HYPE.

Hyperliquid Labs is unstaking 3.75M HYPE for the October team payout and selling the full batch over the counter to a single institutional buyer, according to co-founder iliensinc on the project's Discord. Because the tokens change hands off-exchange, they do not need to clear public order books, which could limit immediate selling pressure around the unlock.

The buyer, price, and any holding period have not been disclosed, so the batch could still reach exchanges later; on-chain flows once the tokens settle after October 7 will be the clearest signal. For scale, Hyperliquid's buybacks totaled $11.81M over the past week, about 3.5% of this unlock's dollar value, while cumulative burns have reached roughly 47.48M HYPE as of October 3.

Notable Tokenomics Updates

Aave: Burn under consideration for Aavenomics 3.0

Status: Under discussion, no proposal submitted

Aave founder Stani Kulechov said on September 28 that the team is considering adding a burn to Aavenomics 3.0. Aave's documentation describes a revenue-funded buyback with a $50M annual budget with weekly purchases of $250K–$1.75M, and repurchased AAVE goes to the DAO's Ecosystem Reserve, where it can fund staking rewards, grants, and service providers.

No governance proposal, burn ratio, or launch date has been set. A burn would shift bought-back tokens from redeployable reserve holdings to permanent supply removal, though it is not yet clear whether it would cover new purchases, existing reserve holdings, or both.

Blast: Ethereum L2 to wind down

Status: Announced October 2; interface withdrawals close October 26

Blast announced it will shut down, stating that the cost of running the L2 exceeds the revenue it generates and that it sees no credible path to sustainability. TVL has fallen to roughly $23M from a peak above $2.2B in June 2024.

Withdrawals pause for about a week while Blast unwinds its Lido positions. The standard interface stays open until October 26, after which funds remain recoverable through the bridge contracts on Ethereum. For token holders, no redemption value has been set, and the BLAST token, its liquidity pools, and the Safe that can mint more all live on the chain being retired, with no disclosed plan for after October 26.

Cronos: Revenue-to-burn proposals pass

Status: Passed October 3 with 99.97% and 99.78% support

Cronos voters approved two proposals. The first burned 228M CRO from the community pool, the fifth and largest round after four 50M burns, bringing the cumulative total to 428M CRO. The second (a signalling proposal) commits 100% of revenue from Cronos Ult and Cronos Launch to open-market CRO buybacks, burned monthly with transaction hashes made public.