The cryptocurrency market is on the verge of a busy week with massive token unlocks coming. Investors and traders must therefore be prepared for possible price fluctuations and opportunities. Today’s data from Phoenix Group highlighted top forthcoming token unlocks this weeks as highlighted below.
Upcoming token unlocks
Sui Network (SUI)
According to the data, Sui Network takes the top position as its token unlocking event is scheduled to happen before the rest. Sui unlocked 80.14 million SUI tokens worth $193.68 million today, April 1, 2025. This unlock is equivalent to 0.80% of the current circulating supply of 3.17 billion SUI coins.
DYdX (DYDX)
Second on the list is dydx, a DEX perpetual trading platform, which also unlocked massive amounts of restricted tokens today, April 1. According the data, dydx unlocked 8.33 million DYDX coins valued at $5.48 million today, April 1 2025, representing 1.85% of the current circulating supply of 819.98 million DYDX tokens.
Zetachain (ZETA)
Zetachain is third on the list, with its token unlocking event also happening today. The project unlocked 50.07 million ZETA tokens worth $14.57 million, representing 2.38% of the current circulating supply of 780.28 million ZETA tokens. Zetachain will allocate the newly released coins across multiple initiatives, such as liquidity incentives, advisory functions, assistance for key contributors, a network growth fund, and a user growth pool.
Ethena (ENA)
Ethena took the fourth position as it will conduct its token unlocking exercise tomorrow, April 2. Ethena intends to release 94.19 million ENA tokens worth $33.95 million tomorrow. The event is significant as it will release 0.63% of the current circulating supply of over $764 million. This is a huge quantity and could revamp liquidity and how users feel about the coin.
IOTA (IOTA)
IOTA also gained the spotlight with its token unlocking program, which is set to take place tomorrow, April 2. IOTA will release 94.19 million ENA tokens worth $3.35 million, accounting for 0.42% of the current circulating supply of 3.68 billion IOTA tokens.
Others
Other crypto projects that are set to release their restricted tokens this week include Wormhole, Xion, Solana, and Kaspa.
Wormhole (W) plans to release 1.39 billion W tokens valued at $116.06 million on Thursday, April 3. Xion (XION) will unlock 1.68 million XION tokens (worth $2.15 million) on Saturday, April 5.
Next is Solana (SOL), which is scheduled to carry out a token unlock of $472,990 SOL tokens worth $60.88 million on Monday, April 7. Lastly, Kaspa (KAS) will release 153,240 KAS tokens valued at $10.5 million on Monday April 7.
Token unlocks crucial for market stability
Token unlocks are gaining attention in the crypto market as multiple projects are preparing to unleash part of their locked tokens. Such occasions are important for traders and long-term buyers. Token unlocks means realizing of previously locked or restricted coins into circulation, allowing them to become available for buying, selling, and trading.
Such token unlocking events can cause varied market impacts, majorly based on how investors perceive the releases and the wider economic implications. First, token unlocks typically lead to increased supply. Whenever huge quantities of coins enter circulation, they can water down (weaken) the market and cause short-term price declines.
Secondly, such unlocking events can also influence existing investors to sell their held tokens. The abrupt surge in supply can trigger drops in the asset’s price. Lastly, such happenings can create market opportunities. Buyers can take advantage of token unlocks to enter new markets at lower prices and accumulate big quantities of coins.
