Token unlocks are a crucial event in the crypto market, often influencing price movements and investor sentiment. As locked tokens gradually enter circulation, they can impact supply dynamics, sometimes leading to increased volatility. In the coming days, several notable projects including ENA, SUI, IOTA, EIGEN, KAS, and BERA are set to release a portion of their tokens. This article takes a closer look at these upcoming unlocks, their potential market impact, and what technical indicators suggest about each token’s price trajectory.
ENA
At press time, Ethena is trading at $0.4123 with an increase of 4.50% in the last 24 hours and has a market capitalization of $1.28B. It has a trading volume of $212.08M and a Fully-diluted value (FDV) of $6.18B. On March 2, 2025, ENA will unlock 1.30% of the circulation supply, which is about 40.63M ENA and worth $16.75M.
The Relative Strength Index of the coin is at 39.08, which is below the neutral 50 level, indicating bearish sentiment. The graph shows that the RSI value has been moving within a particular range, indicating market indecision. On the other hand, the Moving Average Convergence Divergence at -0.0585 is above the signal line at -0.0709, indicating a buying pressure. And the consistent green bars on the histogram also indicate a bullish momentum.
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SUI
At the time of publication, Sui is trading at a value of $2.85 and has a market cap of $9.04B. Over the past 24-hours, the coin’s value has increased by 8.47%, while the trading volume has declined by 16.35% to $927.79M. SUI has unlocked 31% of its total supply and has a circulation of 3.16B SUI. The network will unlock additional coins of about 40.63M SUI (1.28% of Cir.supply) into circulation worth $116.19M on March 3, 2025.
Technical Indicators suggest a bearish momentum for the coin. The RSI is at 38.99, which is near the overbought zone of 30 and indicates selling pressure. The MACD line at -0.2250 is below the signal line at -0.2088, and the negative histogram bars at -0.0161 represent a bearish momentum.
IOTA
At the time of writing, IOTA has a value of $0.2047 and a trading volume of $35.56M. The coin has a market cap of $747.34M and in the past day the coin’s value has risen by 7.19%. IOTA has a circulation supply of 3.65B IOTA and has already unlocked 73.82% of the total supply. On March 4, 2025, 0.24% of the circulation supply (8.63M IOTA) worth $1.77M will be released into circulation.
The MACD line is trading above the signal line, which indicates a bullish momentum. But, the narrow gap between the supply and MACD lines and the decreasing positive bars on the histogram suggests weakening bullish momentum and the possibility of a bearish crossover. The RSI at 37.25 suggests a bearish trend with the potential for further downside unless buyers step in.
EIGEN
EigenLayer has a value of $1.63, which has surged by 4.79% in the last 24-hours and its trading volume has dipped by 22.64%, reaching $71.31M, during reporting. It has a market cap of $382.59M and an infinite amount of supply. About 1.29M EIGEN, which corresponds to 0.53% of circulation supply and worth $2.10M will be unlocked on March 4, 2025.
Technical indicators like RSI and MACD present mixed signals. The RSI value of 39.42 indicates a bearish trend as it trades near the overbought zone of 30. The MACD suggests a bullish momentum with the MACD line above the signal line and the positive histogram.
KAS
At press time, Kaspa has a value of $0.07864 and a market value of $2.02B. The trading volume stands at $84.81M and a circulating supply of 25.78B KAS. It has already unlocked 89% of the token supply and possesses an FDV of $2.25B. On March 7, 2025, about 162.35M KAS (0.63% of Cir.supply) worth $12.86 will be released into circulation.
The Moving Average Convergence Divergence at -0.007497 is below the signal line at -0.005832, which suggests bearish momentum. Furthermore, the rising negative histogram bars suggest an increasing selling pressure. The RSI at 30.43 suggests the coin is in overbought territory, which represents a bearish trend.
BERA
Berachain is trading at a value of $8.35, experiencing an increase of 13.28% over the last 24-hours at the time of writing. It has a market cap of $898.14M and a trading volume of $384.94M. BERA has a circulation supply of 107.48M and has no cap on max supply. Nearly 10.00M BERA, which is 9.28% of circulation supply and worth $84.00M will be unlocked on March 8, 2025.
The Relative Strength Index (RSI) is at 59.74, approaching the overbought zone of 70, indicating buying pressure and a bullish trend. This is further supported by the MACD indicator, where the MACD line is above the signal line, along with a continuously positive histogram at 0.078.
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Conclusion
The upcoming token unlocks for ENA, SUI, IOTA, EIGEN, KAS, and BERA will introduce varying levels of supply into the market, potentially impacting their price action. While some tokens, like BERA, show strong bullish momentum, others, such as KAS and SUI, face bearish pressures. The technical indicators, RSI and MACD present mixed signals across the board, highlighting market uncertainty. Investors should closely monitor these unlocks, as increased supply can lead to short-term volatility.
