2Z, SUI, ENA Token Unlocks Set to Inject Over $140M Into Circulating Supply Next Week
TREE NEWS reports: Token Unlocks data shows that several major cryptocurrency projects will release previously locked tokens into circulation next week, with DoubleZero (2Z), Sui (SUI), Ethena (ENA), and Kamino (KMNO) all scheduled for significant unlocks. The largest by value is 2Z, which will release approximately 1.66 billion tokens on October 2 at 9:00 PM Beijing time — a figure equal to roughly 47.69% of its current circulating supply and valued at approximately $114 million. SUI follows with about 13.26 million tokens unlocking on October 1 at 8:00 AM Beijing time, representing 0.32% of its circulating supply and worth roughly $16.7 million. ENA will unlock approximately 40.63 million tokens on October 2 at 3:00 PM Beijing time, equating to 0.45% of circulating supply and valued at about $11 million. KMNO is set to release roughly 229 million tokens on September 30 at 8:00 PM Beijing time.
Why These Unlocks Matter
Token unlocks are a critical mechanism in crypto markets because they directly increase the available supply of an asset, which can pressure prices if demand does not keep pace. The 2Z unlock is particularly notable given its sheer size relative to circulating supply — nearly half of all 2Z tokens currently in circulation will become liquid at once. Such a large unlock can create significant selling pressure, especially if early investors or team members choose to realize gains.
For SUI and ENA, the unlocks are proportionally much smaller, representing less than half a percent of circulating supply each. These are less likely to cause dramatic price swings but still add incremental sell-side liquidity that traders will monitor closely.
Market Context and Implications
The unlocks come amid a broader period of heightened volatility in digital asset markets, with macroeconomic uncertainty and shifting regulatory landscapes influencing investor sentiment. Large unlocks often serve as catalysts for short-term price action, and derivatives markets frequently price in anticipated volatility around these events.
- 2Z: The massive 47.69% unlock could be a double-edged sword — while it signals the project is maturing and distributing tokens, it also raises immediate questions about who will absorb the new supply.
- SUI: With a relatively small unlock, SUI’s price impact may be muted, but the event still adds to the token’s gradual supply expansion.
- ENA: Ethena’s unlock is modest but worth watching given the protocol’s role in the stablecoin and yield-bearing asset space.
- KMNO: Kamino’s unlock adds another data point for DeFi watchers tracking Solana ecosystem tokenomics.
Forward-Looking Perspective
Investors and traders should prepare for potential volatility in the days surrounding these unlocks. Historical patterns suggest that markets often front-run unlock events, with prices declining ahead of the release and stabilizing afterward if the selling pressure is absorbed. The key variable will be whether demand from new buyers, staking mechanisms, or protocol-level incentives can offset the incoming supply. For 2Z in particular, the coming week will be a major test of market depth and holder conviction.
