Major Crypto Token Unlocks to Release Over $120M in Late August 2025

The cryptocurrency market is bracing for a significant wave of token unlocks in late August 2025, with Ethena (ENA), Immutable (IMX), and several other tokens set to release large portions of their circulating supply. The unlocks, beginning on August 2 for Ethena and August 9 for IMX, are expected to release over $120 million worth of tokens into the market, potentially affecting liquidity and price stability. Specifically, the Ethena unlock will release 0.64% of its supply, valued at approximately $23.36 million, while the IMX unlock will release 1.3% of its supply [1].

These events come amid broader market concerns, as the crypto market has seen a 2.73% drop in total market capitalization within a 24-hour period [3]. Investors are particularly cautious about the timing, as large unlocks during a market downturn could amplify volatility. Some industry observers have noted that while token unlocks can initially trigger downward price pressure, historical patterns suggest that markets often stabilize quickly, especially when governance mechanisms and strategic absorption strategies are in place [1].

Ethena has been a focal point in recent discussions due to its growing influence in the stablecoin and DeFi ecosystems. Despite short-term concerns, bullish analysts remain focused on its long-term fundamentals. As of the latest data, Ethena’s price stands at $0.59, with a market capitalization of nearly $3.75 billion, showing a 9.61% increase over 24 hours, though it has declined 10.86% in the past week [1]. Institutional interest and market sentiment will likely play a key role in determining how the unlock impacts its price trajectory.

Similar caution is observed for other tokens set to unlock, such as MOVE, which is scheduled for a major unlock on August 8. The timing of these events, coinciding with a broader market correction, has led to heightened scrutiny from investors and analysts [2]. While the immediate effects of unlocks remain uncertain, past experience, such as the May 2025 ENA unlock, has shown that price fluctuations tend to be short-lived as investor confidence returns [1].

In summary, the upcoming unlocks represent a critical test for the market’s resilience. With a cumulative value exceeding $120 million, the event has sparked mixed reactions, with some experts urging investors to closely monitor market movements and on-chain activity in the coming days [1]. While short-term volatility is a possibility, the broader market structure and historical patterns suggest that any disruptions are likely to be temporary.

Source: [1] [Bitcoin Slides as Rate-Cut Hopes Fade](https://cryptoadventure.com/bitcoin-slides-as-rate-cut-hopes-fade-crypto-daybook-americas)

[2] [Institutional Buying Fails to Halt Market Adjustment, Short ...](https://www.binance.com/en/square/post/27773433815778)

[3] [Crypto market loses 2.73% of total cap in 24 hours](https://www.facebook.com/groups/2884002658576629/posts/3984890571821160/)