The headline figure needs some context. Adding the listed estimates produces a total of approximately $1.28 billion, but that amount combines cliff unlocks with linear token releases. Tokenomist classifies RAIN’s distribution as linear, while the latest CryptoRank cliff-unlock ranking is led by XPL. Dollar values may also change before each event because they are calculated using current token prices.
XPL Carries the Largest Relative Supply Increase
The most concentrated release is scheduled for September 25, when approximately 1.75 billion XPL may become available. The tranche is valued at around $151 million and represents 63.2% of the token’s circulating supply. Plasma’s schedule confirms a major ecosystem and growth allocation release on that date.
RAIN has a much higher estimated value of $625 million, but the 35.9 billion-token release represents around 5.0% of its circulating supply and forms part of a linear distribution. This distinction matters: XPL faces a much larger one-day change relative to its existing market float.
| Date | Project | Tokens released | Share of circulating supply | Approximate value |
|---|---|---|---|---|
| September 2 | Bitway (BTW) | 102 million | 3.8% | $41 million |
| September 9 | ADI Chain (ADI) | 7 million | 7.0% | $48 million |
| September 10 | Rain (RAIN) | 35.9 billion | 5.0% | $625 million |
| September 14 | pump.fun (PUMP) | 6.9 billion | 1.7% | $32 million |
| September 20 | LayerZero (ZRO) | 26 million | 7.2% | $30 million |
| September 20 | Kaito (KAITO) | 17.6 million | 7.3% | $5.6 million |
| September 25 | Humanity Protocol (H) | 270 million | 13.5% | $20.3 million |
| September 25 | Plasma (XPL) | 1.75 billion | 63.2% | $151 million |
Why the Supply Percentage Matters
An unlock does not automatically mean that every released token will be sold. The market reaction depends on who receives the allocation, how much liquidity is available and whether tokens move to exchanges, staking contracts or long-term treasury wallets.
The dollar value alone can therefore be misleading. RAIN dominates the calendar by nominal value, but XPL presents the more significant dilution event. Humanity Protocol, KAITO, ZRO and ADI also deserve attention because their releases exceed 7.0% of circulating supply.
Vesting plans may also be revised before distribution. The recent reallocation of 546.9 million OP showed how governance decisions can change the purpose and timing of a large token allocation without immediately placing the entire amount on the market.
Other Token Unlocks in September
| Date | Other scheduled releases and estimated values |
|---|---|
| August 31 | Zora (ZORA): $1.0M |
| September 1 | EigenCloud (EIGEN): $7.4M; KITE AI (KITE): $76M; Falcon Finance (FF): $6.7M; Audiera (BEAT): $1.4M; Sui (SUI): $10.3M |
| September 2 | Zama (ZAMA): $6.2M; olaxbt (AIO): $1.3M; Quack AI (Q): $6.5M; Ethena (ENA): $6.8M |
| September 4 | Sleepless AI (AI): $0.3M; Lagrange (LA): $1.6M |
| September 5 | Keeta (KTA): $1.3M |
| September 7 | Jito Labs (JTO): $5.4M |
| September 9 | Movement (MOVE): $1.5M |
| September 10 | Magic Eden (ME): $0.7M; Cheelee (CHEEL): $2.2M; Linea (LINEA): $2.5M; DappOS (DOS): $3.7M; Velvet Capital (VELVET): $1.1M; B3.fun (B3): $0.5M; DeFi.app: $1.2M |
| September 11 | Delysium (AGI): $0.3M; Mocaverse (MOCA): $1.6M; Allora (ALLO): $1.0M; Talus Network (US): $1.6M; io.net (IO): $1.8M |
| September 12 | Aptos (APT): $5.6M; RaveDAO (RAVE): $1.3M |
| September 13 | BounceBit (BB): $0.5M; Unitas (UP): $13.2M |
| September 14 | Chainbase (C): $1.6M; Pieverse (PIEVERSE): $5.0M |
| September 15 | Starknet (STRK): $3.3M; Sei (SEI): $4.5M; Sign (SIGN): $1.0M |
| September 16 | Cyber (CYBER): value not stated; Arbitrum (ARB): $8.4M; Boundless (ZKC): $8.2M; GoPlus (GPS): $1.6M; Vana (VANA): $1.3M; Alaya AI (AGT): $2.6M; Magma Finance (MAGMA): $4.2M; STBL (STBL): $15M; RollX (ROLL): $2.8M |
| September 17 | Solv Protocol (SOLV): $0.5M; Caldera (ERA): $1.3M; Pudgy Penguins (PENGU): $6.6M; BabyBoomToken (BBT): $1.2M |
| September 18 | Manta Network (MANTA): $1.0M; GrantlX (GRANT): $1.0M; DeAgentAI (AIA): $2.2M |
| September 19 | zkSync (ZK): $1.5M; Pixels (PIXEL): $0.5M; Polyhedra Network (ZKJ): $0.2M; YooLdo (ESPORTS): $0.2M; Merlin Chain (MERL): $0.8M |
| September 20 | Sapien (SAPIEN): $1.8M |
| September 21 | Trusta.AI (TA): $1.5M; AriaAI (ARIA): $0.7M; Plume Network (PLUME): $3.1M; Akedo Game (AKE): $17.3M; ETHGAS (GWEI): $1.3M; Seeker (SKR): $1.1M |
| September 22 | SPACE ID (ID): $2.2M; Scroll (SCR): $0.3M; Hyperlane (HYPER): $0.9M; River (RIVER): $4.2M |
| September 23 | Meteora (MET): $1.5M; Bless (BLESS): $5.6M; Avantis (AVNT): $2.5M; Japan Open Chain (JOC): $0.5M; Spacecoin (SPACE): $1.2M |
| September 24 | Nillion (NIL): $1.0M; Dolomite (DOLO): $0.3M; Orochi Network (ON): $3.1M |
| September 25 | Irys (IRYS): $1.1M; AltLayer (ALT): $1.5M; Perle (PRL): $2.0M; OVERTAKE (TAKE): $1.1M |
| September 26 | Sahara AI (SAHARA): $4.8M; WalletConnect (WCT): $0.7M; Fogo (FOGO): $14.1M |
| September 27 | SUPERFORTUNE (GUA): $0.8M |
| September 29 | AEON (AEON): $0.5M; Anoma (XAN): $2.5M |
Schedules, circulating-supply estimates and dollar values may change before the release dates. Some trackers also show additional September HYPE vesting events, but the reported dates and amounts currently differ, so they have not been included in the fixed ranking above.
Conclusion: RAIN represents the largest scheduled release by estimated dollar value, but XPL is the more substantial dilution event because its unlock equals more than 60% of circulating supply. The wider market reaction will depend on liquidity and investor demand, which remain the main themes in our latest crypto market outlook.
