Token unlocks are pivotal events in the crypto market pipeline, often influencing price movements and investor sentiment. As a portion of the total token supply is released into circulation, it can impact liquidity and coin prices, leading to potential shifts in market dynamics. Over the next few days, primary tokens like FET, IOTA, OP, SUI, dYdX, and ENA will be unlocked. This article analyses their market impact, key technical indicators, and what they suggest about each token’s performance.
FET
At the time of publication, FET has a price of $0.7872, with a 14.28% increase in the last 24 hours, according to CoinMarketCap. It has a market capitalization of $1.88 billion and a 24-hour trading volume that has increased by 19.31%, reaching $203.68 million. FET currently has an FDV value of $2.13 billion. On April 28, 2025, the coin is expected to release an additional 0.12% of its circulation supply, approximately 3.19M FET, which is worth $2.52M.
The RSI sits at 48.09, which is approaching the neutral 50 level, indicating a weakening of selling pressure. The narrowing gap between the MACD line and signal line, along with the declining red histogram, suggests a possible bullish reversal.
IOTA
IOTA has been trading at $0.2163, an 8.18% increase in the last 24 hours at the time of writing. Its 24-hour trading volume is at $40.77 M and has a market capitalization of $806.26M. The coin has already unlocked 75.51% of its total supply, and an additional 0.41% of circulation supply (15.16M IOTA) worth $3.28M will be released into the market on 30th April 2025.
Technical indicators, such as RSI and MACD, point to downside pressure for IOTA. The RSI has fallen from above 60 to 50, signaling growing selling momentum and hinting at the potential for further decline. The MACD line has recently crossed below the signal line, signaling a bearish crossover.
OP
At the time of writing, the price of OP coin is $0.8277, a 3.55% increase. It has a market capitalization of $1.3 billion and a 24-hour trading volume of $141.49 million, which has increased by 7.54%. The FDV of OP coin is $3.55 billion and has a circulation supply of 1.65B OP. On April 30th, 2025, the coin will unlock an additional 1.89% of the circulation supply, which is about 31.34M OP and worth $25.96M.
The MACD line remains below the signal line, but the narrowing gap between them, along with declining negative histogram bars, suggests the potential for a bullish crossover. The RSI stands at 58.77, placing it in neutral territory. Based on the chart, if buying pressure continues, the RSI could rise above 60 and potentially reach the overbought level of 70.
SUI
SUI had a price of $3.60, an increase of 0.35% in the last seven days at the time of publication. It had a market cap of $11.71B and a 24-hour volume of $2.86B. Sui has a circulating supply of 3.24B SUI and a total supply of 10B SUI. The coin is expected to unlock 74.00M SUI (2.28% of Cir.supply), worth $266.38M on 1 May 2025.
The MACD remains positioned below the signal line, indicating the presence of bearish momentum in the market and the RSI has slipped to 45.16, placing it firmly within bearish territory.
dYdX
At the time of writing, the coin is trading at $0.6793 and has a market cap of $520.3M. dYdX’s 24-hour volume has declined by 20.51% to $11.09M, and has a circulating supply of 765.83 M DYDX tokens. On May 1, 2025, the coin will unlock 8.33M DYDX, which is about 1.09% of Cir. supply and worth $ 5.59M.
The RSI value has from close to being the overbought zone to the neutral territory with a value of 58.66, indicating a decline in buying pressure. The MACD line is below the signal line, which also indicates a bearish outlook, while the rising negative histograms suggest strengthening downward momentum.
ENA
As of press time, ENA is trading at $0.3707 with a 0.92% increase in the last 24 hours and has a market capitalization of $2.05 billion. It has a trading volume of $166.25 million and a fully diluted value (FDV) of $5.55 billion. On March 26, 2025, ENA will unlock 0.73% of the circulation supply, which is about 40.63M ENA worth $15.08 M.
The RSI for the coin stands at 49.46, hovering near the neutral 50 mark. While the MACD remains below the signal line, signaling bearish momentum, the shrinking negative histogram bars suggest that selling pressure may be weakening, hinting at a possible shift toward bullish momentum.
Conclusion
The cryptocurrency market is poised for a blend of bullish and bearish trends across various tokens. This week’s upcoming token unlocks are expected to significantly influence short-term market dynamics, affecting both liquidity and investor sentiment. However, investors should stay cautious and closely monitor macroeconomic factors and broader market conditions that could sway these projections.
