5 Token Unlocks to Watch Next Week

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Token unlocks are pivotal events in the cryptocurrency space, marking the release of previously restricted tokens that were typically allocated during fundraising rounds or reserved for team members, investors, and ecosystem development. These scheduled releases can influence market dynamics by increasing circulating supply, potentially affecting price stability. Projects often plan these events strategically to minimize downward pressure and maintain long-term confidence.

Next week is shaping up to be significant for several major blockchain ecosystems, with multiple high-value token unlocks on the horizon. Below, we break down five of the most notable upcoming unlocks—highlighting key details, distribution plans, and what they could mean for each project’s future.

Ethena (ENA): Fueling the Internet Bond Ecosystem

Ethena is a synthetic dollar protocol built on Ethereum that offers a decentralized alternative to traditional financial instruments. By leveraging delta hedging strategies, it provides users with a stable, yield-generating asset often referred to as the “Internet Bond.” This innovation positions Ethena as a key player in the emerging landscape of on-chain financial products.

The ENA token serves as the governance mechanism for the protocol, empowering holders to vote on upgrades, risk parameters, and treasury allocations. On January 29, over 12.86 million ENA tokens—valued at approximately $11 million—will be unlocked. These tokens are earmarked for ecosystem development, including grants, partnerships, and community incentives.

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This unlock represents less than 0.5% of the current circulating supply, suggesting minimal immediate market impact. However, sustained unlocks over time could gradually influence supply-demand equilibrium if not offset by strong utility growth.

Optimism (OP): Scaling Ethereum with Governance Power

As a leading Layer-2 scaling solution, Optimism enhances Ethereum’s throughput by processing transactions off-chain while maintaining security through fraud proofs. Its native OP token plays a central role in decentralized governance, allowing stakeholders to shape protocol upgrades and funding decisions via the Optimism Collective.

On January 31, 31.34 million OP tokens will be released—primarily distributed to core contributors and early investors. This unlock accounts for roughly 2.3% of the current circulating supply, making it one of the larger releases next week.

Given Optimism’s active roadmap and growing adoption among decentralized applications (dApps), continued token distribution supports long-term decentralization goals. Still, investors should monitor trading volume and sentiment around this event, as increased sell pressure could temporarily affect price action.

Sui (SUI): High-Speed Blockchain Prepares Major Release

Sui is a cutting-edge Layer-1 blockchain designed for speed and scalability, utilizing the Move programming language and a unique object-centric data model. Developed by former Meta (formerly Facebook) engineers from the Novi Research team, Sui targets high-performance use cases such as gaming, DeFi, and social applications.

The SUI token enables network security through staking and facilitates governance participation. On February 1, a substantial unlock will release 64.19 million SUI tokens, allocated to:

While this amounts to about 2.1% of the current circulating supply, the distribution across strategic categories suggests a focus on sustainable growth rather than immediate liquidity dumping.

With increasing developer activity and new project launches on the network, Sui continues to build momentum in the competitive Layer-1 arena.

ZetaChain (ZETA): Enabling True Cross-Chain Interoperability

ZetaChain stands out as a fully interconnected blockchain platform enabling seamless communication across heterogeneous networks—including Bitcoin, Ethereum, and Binance Smart Chain—without requiring wrapped assets or bridges.

Its native ZETA token powers transactions, secures the network via proof-of-stake consensus, and enables governance. On February 1, nearly 45 million ZETA tokens will be unlocked to support critical initiatives such as:

This unlock represents approximately 7% of the current circulating supply—one of the more significant percentages among next week’s events. However, since many of these tokens are directed toward long-term development rather than immediate market sale, the price impact may remain moderated if demand keeps pace.

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dYdX (DYDX): Decentralized Derivatives Continue Evolution

dYdX remains the leading decentralized exchange for perpetual futures trading, offering users non-custodial access to leveraged markets with deep liquidity. The DYDX token grants governance rights and incentivizes platform engagement through staking rewards and fee discounts.

On February 1, 8.33 million DYDX tokens will be unlocked—primarily allocated to founders and early investors—with additional portions set aside for current and future team members.

Although this release constitutes around 1.15% of the circulating supply, historical patterns show that large investor unlocks can lead to short-term volatility, especially if traders anticipate profit-taking.

Still, dYdX's transition to its own Cosmos-based chain has strengthened its autonomy and scalability, positioning it well for continued innovation in decentralized finance.

Other Notable Unlocks

In addition to the five highlighted above, next week also includes significant unlocks for EigenLayer (EIGEN), Celo (CELO), and Moca Network (MOCA), collectively representing over $450 million in token value entering circulation.

These events underscore a broader trend: maturing crypto projects fulfilling vesting schedules while balancing decentralization with market stability.

Frequently Asked Questions (FAQ)

Q: What is a token unlock?
A: A token unlock is when previously restricted tokens—often held by teams, investors, or treasuries—become eligible for circulation according to a predefined schedule.

Q: Do token unlocks always cause price drops?
A: Not necessarily. While increased supply can create selling pressure, the actual impact depends on market sentiment, token utility, and whether recipients hold or sell their tokens.

Q: How can I track upcoming token unlocks?
A: Platforms like Tokenomist provide detailed calendars showing unlock dates, amounts, and recipient categories for major crypto projects.

Q: Are all unlocks bad for investors?
A: No. Strategic unlocks support ecosystem growth by funding development and rewarding contributors. Transparent planning helps markets absorb supply increases smoothly.

Q: Can staking help offset unlock-related sell pressure?
A: Yes. Strong staking adoption locks up tokens voluntarily, reducing available float and potentially counterbalancing new supply releases.

Q: Why do projects use vesting schedules?
A: Vesting aligns incentives over time, discouraging early dumping and promoting long-term commitment from teams and investors.

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As we move further into 2025, transparency around token distribution remains crucial for building trust in decentralized ecosystems. By understanding who receives unlocked tokens and how they’re used, investors can make more informed decisions in an evolving digital asset landscape.

Whether you're tracking ENA's role in synthetic assets or ZETA's cross-chain vision, staying informed about upcoming unlocks empowers smarter participation in the future of finance.