3 Notable Tokens Unlocked in the First Week of July 2025: Supply Movements and Market Impact
The first week of July 2025 saw a wave of large-scale token unlocks from many major blockchain projects. Among them, the three prominent names are Sui (SUI), Ethena (ENA) and ZetaChain (ZETA), with a total value unlocked reaching hundreds of millions of USD. These events can create significant price fluctuations in the short term and are of particular interest to investors.
1. Sui (SUI)
Unlock Date: July 1
Quantity: 44 million SUI (0.44% of total supply)
Estimated Value: $122.3 million
Current Circulating Supply: 3.39 billion SUI
Total Supply: 10 billion SUI
Sui is a next-generation blockchain focused on high scalability and superior performance, with an object-oriented architecture and the Move programming language. On July 1, Sui will unlock 44 million tokens – equivalent to 1.3% of the current circulating supply.
The majority of tokens will be allocated to Series B investors (19.32 million), the community (12.63 million), early contributors (9.98 million), and the Mysten Labs treasury (2.07 million). The SUI price has just seen an 11.3% increase over the past week but has begun to correct slightly as the market prepares for the unlock.
2. Ethena (ENA)
Unlock Date: July 2
Quantity: 40.63 million ENA (0.27% of total supply)
Estimated Value: $10.9 million
Current Circulating Supply: 6.087 billion ENA
Total Supply: 15 billion ENA
Ethena is a DeFi protocol focused on issuing the USDe synthetic stablecoin. The ENA token serves as the platform’s governance token. The upcoming unlock is allocated entirely to the project fund and represents approximately 0.67% of the current circulating supply.
Although ENA has dipped slightly by 0.2% in the most recent day, it is still up 10% on the week – indicating that market sentiment remains quite bullish ahead of the unlock event.
3. ZetaChain (ZETA)
Unlock Date: July 1
Quantity: 44.26 million ZETA (2.1% of total supply)
Estimated Value: $7.9 million
Current Circulating Supply: 877.5 million ZETA
Total Supply: 2.1 billion ZETA
ZetaChain is a blockchain platform focused on cross-chain interoperability, including non-smart contract networks such as Bitcoin and Dogecoin. This unlock represents a large portion of the total supply and is distributed across a variety of sources: core contributors, project treasury, buyers, advisors, ecosystem growth funds, liquidity incentives, and user growth.
ZETA is down slightly by 0.6% in the recent day but still up 8% for the week, a notable performance given the increased supply pressure.
Market Impact
All three tokens posted positive growth last week, but also showed signs of correction as the unlocks neared. The injection of tens of millions of tokens into the market will increase short-term selling pressure, especially if investors or token recipients decide to take profits.
In addition to SUI, ENA, and ZETA, the first week of July will also see major unlocks from other projects such as Neon (NEON), Renzo (REZ), and dydx (DYDX). The total value of tokens unlocked in the next 7 days is estimated to exceed $484 million, increasing volatility and correction pressure across many digital assets.
Conclusion
With the strong unlock wave in early July, investors should closely monitor the timelines and additional supply from major projects. While price fluctuations may be short-term, understanding the impact of token unlocking will help make wise investment decisions and manage risk more effectively in the volatile cryptocurrency market.