Over $773 million in tokens will be released in the first week of October 2025. The releases center on Sui (SUI), EigenLayer (EIGEN), and Ethena (ENA) across October 1–2, 2025. Builders and compliance officers track these events because extra supply often pushes prices down, and the exact allocations and recipients will shape the first market move.
Context and Impact
On October 1, 2025, Sui will release 44 million SUI, worth approximately $143.8 million and equal to 1.23% of its circulating supply. The breakdown includes allocations for Series B investors, the community reserve, early contributors, and the Mysten Labs treasury. Past SUI unlocks coincided with price drops as recipients sold; the drop may soften if tokens are staked or redeployed inside the network. Analysts suggest the impact of this unlock may be muted due to SUI’s long vesting schedule, which allows the market time to absorb the new supply.
EigenLayer will unlock 36.82 million EIGEN on October 1, amounting to 13.7% of its circulating supply and valued at around $68.5 million. This cliff unlock is designated for investors and early backers. If validators or ecosystem builders receive the tokens, uptake and security could rise; if early investors hold most, exit liquidity risk grows. The need for EigenLayer to publish detailed allocations would help the market price this risk more accurately.
Ethena will unlock 40.63 million ENA on October 2, equal to 0.62% of its total supply. Another source notes an upcoming release of 212.5 million ENA tokens, valued at approximately $126.7 million, though the specific date for this larger unlock is not confirmed in the search results. No detailed split is public for the October 2nd event. A team-heavy share suggests continued development, while a community-heavy share can widen participation. Because Ethena backs synthetic dollars and yield products, an orderly release helps maintain the peg and DeFi liquidity intact.
Implications and Key Points
A token unlock is an event where previously locked or vesting tokens are released into circulation, increasing the available supply and often affecting the token’s price and liquidity. In the current climate, “tokens with large unlock schedules may struggle to find sufficient demand,” potentially leading to underperformance relative to the broader market.
The key implications include short-term selling pressure if investors unload large lines, a potentially softer impact if recipients stake or feed the tokens back into dApps, and a threat to Ethena’s peg or DeFi products if liquidity thins.
Next Steps for Teams
The next step is monitoring the actual unlock on October 1 and 2, 2025. Product and compliance teams should track exchange inflows, staking rates, and dApp usage for 72 hours after each event. This data will reveal how much liquidity is at risk and how effectively each project manages its token release.
