3 Token Unlocks That Could Shake Crypto Markets in Early August 2025

Brace for impact—these releases could flood the market or fuel the next rally.

Token unlocks always spark volatility. Some investors see them as exit liquidity dressed in protocol clothing. Others view them as growth fuel for ecosystems. Here are the three that matter this week:

1. The Sleeping Giant Awakens

A top-20 project unleashes 15% of its circulating supply. Will holders diamond-hand or dump?

2. VC Payday Protocol

Early backers finally get their turn—just as retail FOMO peaks. Classic crypto timing.

3. The Dark Horse Candidate

An under-the-radar altcoin's unlock coincides with mainnet launch. Recipe for a moonshot or ghost town?

Smart money's watching the order books, not the headlines. Because in crypto, the 'unlock' narrative often unlocks more speculation than actual selling pressure.

1. Ethena (ENA)

• Unlock Date: August 05
• Number of Tokens to be Unlocked: 171.88 million ENA (1.15% of Total Supply)
• Current Circulating Supply: 6.3 billion ENA
• Total supply: 15 billion ENA

Ethena is a decentralized synthetic dollar protocol built on the ethereum (ETH) blockchain. It offers a crypto-native alternative to traditional stablecoins. The protocol’s flagship product is USDe, a synthetic dollar stablecoin. Furthermore, ENA is the protocol’s governance token.

On August 5, the team will release 171.88 million ENA. The tokens are worth $104.82 million and account for 2.7% of the current circulating supply.

Ethena will award 93.75 million tokens to Core contributors. Moreover, investors will receive 78.13 million ENA. This supply release follows the network’s pattern of cliff unlocks.

2. Immutable (IMX)

• Unlock Date: August 08
• Number of Tokens to be Unlocked: 24.52 million IMX (1.23% of Total Supply)
• Current Circulating Supply: 1.89 billion IMX
• Total supply: 2 billion IMX

Immutable X is a LAYER 2 scaling solution built on Ethereum, designed for non-fungible tokens (NFTs). It enables gas-free transactions, supports ERC-721 and ERC-20 tokens, and offers high speeds (up to 9,000 TPS) using zero-knowledge proofs for security and scalability. Its native token, IMX, is used for governance and services on the platform.

The network will unlock 24.52 million IMX tokens on August 08, worth $12.36 million. This represents 1.30% of Immutable’s current circulating supply. 

The team will allocate most of the tokens (16.56 million) towards project development. Moreover, Immutable will dedicate 7.96 million IMX to ecosystem development.

3. Movement (MOVE)

• Unlock Date: August 09
• Number of Tokens to be Unlocked: 50 million MOVE (0.5% of Total Supply)
• Current Circulating Supply: 2.65 billion MOVE
• Total supply: 10 billion MOVE

Movement Network is an L2 blockchain solution that uses the MOVE programming language. It utilizes advanced mechanisms to ensure robust interoperability and high security across its ecosystem. 

The team will release 50 million tokens valued at around $6.51 million. The tokens represent 1.89% of the circulating supply, and the entire unlocked supply will go toward the ecosystem and community.

In addition to these three, BounceBit (BB), Delysium (AGI), and IOTA (IOTA) will also experience new supply entering the market. Overall, in August, the market will welcome tokens worth approximately $3 billion.