Several mid-caps have $5M+ cliff unlocks scheduled over the next few days ([HYPE](https://coinmarketcap.com/currencies/hyperliquid/), ENA, RED etc.
In thinner liquidity conditions, unlocks tend to hit price through simple supply mechanics:
new circulating supply
→ sell pressure / early investor exits
→ order book imbalance
Markets often price this in before the actual unlock, so weakness can show up ahead of the event rather than on the day itself.
Came across a clear breakdown of how clustered unlocks affect altcoin liquidity:
[https://btcusa.com/5m-token-unlock-wave-incoming-hype-ena-red-and-the-short-term-altcoin-supply-shock/]()
Curious if people here track float/unlock ratios when trading mid-caps.
