March 2025 is shaping up to be a pivotal month for the cryptocurrency market, with several high-profile token unlocks set to impact supply dynamics and investor sentiment. Leading the pack is Solana (SOL), which is preparing to release $1.56 billion worth of tokens—a move that has already sparked market speculation. But Solana isn’t alone. Projects like SUI, ENA, MOVE, APT, and ARB are also scheduled for significant unlocks this month.
These events can influence price volatility, trading strategies, and long-term investment decisions. Understanding the scale, timing, and implications of these unlocks is crucial for anyone navigating the crypto landscape in 2025.
Solana’s $1.56 Billion Unlock: What You Need to Know
One of the most anticipated events of March is the release of 11.2 million SOL tokens, valued at approximately $1.56 billion at current market rates. This represents about 2.24% of Solana’s total market capitalization, making it one of the largest single-month unlocks in recent memory.
Unlike typical vesting schedules, this unlock stems from venture capital (VC) fund redemptions tied to assets recovered after the collapse of FTX, the now-defunct cryptocurrency exchange. While the exact date within March remains unconfirmed, the market is already reacting.
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In the past 30 days alone, SOL has dropped over 30%, reflecting growing caution among traders ahead of the unlock. Historically, large token releases can lead to selling pressure, especially if early investors or institutions decide to take profits.
However, it's worth noting that Solana’s ecosystem continues to show strength in areas like decentralized applications (dApps), NFT activity, and developer engagement—factors that may help absorb some of the downward pressure.
Key Token Unlocks to Monitor in March 2025
Beyond Solana, multiple Layer 1 blockchains and DeFi protocols are scheduled for meaningful token releases. Here's a breakdown of the most significant ones:
Sui (SUI): 80.14 Million Tokens Unlocking
- Amount: 80.14 million SUI
- Value (as of Feb 27): $236.34 million
- % of Circulating Supply: 2.6%
Sui, a Move-based Layer 1 blockchain known for its parallelized transaction processing and low fees, will unlock a substantial amount of tokens on March 1. At a current price near $2.90, this release accounts for over 2.6% of circulating supply.
Despite strong fundamentals and growing developer interest, only 31% of SUI’s total supply is in circulation, meaning future unlocks could continue to weigh on price performance. Many early backers reportedly have ROI multiples exceeding 400%, increasing the likelihood of profit-taking.
Over the past month, SUI has declined by more than 23%, suggesting traders are already pricing in potential sell-offs.
Ethena (ENA): $40.8 Million Release on March 2
- Amount: 94.19 million ENA
- Value (as of Feb 27): $40.79 million
- % of Circulating Supply: 3.02%
Ethena, the issuer of the algorithmic dollar-pegged token USDe, has gained rapid traction since launch. In fact, USDe surpassed DAI in market cap during late 2024, becoming the third-largest stablecoin after USDT and USDC.
This momentum was further boosted by recent fundraising rounds totaling $116 million, including a private sale and strategic investment round.
On March 2, Ethena will unlock 94.19 million ENA tokens, representing roughly 3% of circulating supply. With ENA down nearly 40% in the last 30 days, investors will be watching closely to see whether governance participation increases post-unlock or if selling pressure intensifies.
Movement (MOVE): 50 Million Tokens on March 9
- Amount: 50 million MOVE
- Value (as of Feb 27): $23.64 million
- % of Circulating Supply: 2.09%
Movement Labs aims to build a modular blockchain ecosystem powered by the Move programming language, originally developed by Meta (Facebook). The project has gained attention not only for its technical ambitions but also for its alignment with pro-crypto political narratives in the U.S., particularly those associated with figures like Donald Trump.
While no official mainnet launch date has been confirmed, rumors suggest it may happen soon—adding intrigue to the March 9 unlock.
The release of 50 million MOVE tokens could influence short-term price action, especially given that major holders like World Liberty Financial (WLFI) have accumulated significant positions. Currently valued at around $2 million, WLFI’s holdings reflect broader institutional interest.
MOVE has seen a 35% drop over the past month, mirroring broader market trends but also possibly signaling caution ahead of the unlock.
Aptos (APT): 11.31 Million Tokens on March 12
- Amount: 11.31 million APT
- Value (as of Feb 27): $69.39 million
- % of Circulating Supply: 1.94%
Another Move-language blockchain, Aptos positions itself as one of the most scalable Layer 1s, claiming theoretical throughput of up to 100,000 transactions per second (TPS) with sub-second latency.
While on-chain metrics show mixed results—such as declining developer activity and low DEX volumes—Aptos maintains a strong base of high-quality user addresses. Data from Flipside suggests many users exhibit long-term holding behavior and active participation across dApps, indicating organic ecosystem health.
The March 12 unlock will release nearly $69.4 million worth of APT, contributing to about 2% of market cap. With APT down 19.5% in a month, the market appears cautiously optimistic rather than fearful.
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Arbitrum (ARB): Largest Unlock of the Month After Solana
- Amount: 92.63 million ARB
- Value (as of Feb 27): $40.38 million
- % of Circulating Supply: 2.1%
As an Ethereum Layer 2 scaling solution using optimistic rollups, Arbitrum has long been a leader in reducing congestion and gas fees on Ethereum. However, it has recently experienced net outflows exceeding $3 billion, raising concerns about user retention and competition from other L2s like Optimism and Base.
The March 16 unlock will release over 92 million ARB tokens, valued at $40.38 million—representing 2.1% of circulating supply.
Despite its foundational role in Ethereum’s scalability roadmap, ARB has fallen over 31% in the past month, reflecting both macro pressures and project-specific challenges.
Frequently Asked Questions (FAQ)
Q: What is a token unlock?
A: A token unlock refers to the release of previously locked or vested tokens according to a pre-defined schedule. These often apply to team members, investors, advisors, or ecosystem funds and can increase circulating supply when released.
Q: Why do token unlocks matter?
A: Large unlocks can introduce new sell-side pressure if recipients decide to liquidate their holdings. This may lead to short-term price drops, especially in bearish or neutral markets.
Q: Do all unlocks cause price declines?
A: Not necessarily. If the market perceives strong fundamentals, growing adoption, or bullish sentiment, the impact may be minimal or even positive if new buyers absorb the supply.
Q: How can I track upcoming token unlocks?
A: Platforms like DropsTab and on-chain analytics tools such as Artemis Terminal provide detailed unlock calendars and vesting schedules for major crypto projects.
Q: Are these unlocks predictable?
A: Yes—most projects publish transparent vesting schedules months or years in advance, allowing investors to anticipate supply changes.
Q: Should I sell before a major unlock?
A: That depends on your investment strategy. Some traders exit positions early to avoid volatility; others hold if they believe in long-term value. Always do your own research (DYOR).
Final Thoughts: Navigating March’s Unlock Wave
The series of token unlocks in March 2025 presents both risks and opportunities. While Solana’s $1.56 billion release dominates headlines, the cumulative effect of multiple projects—SUI, ENA, MOVE, APT, and ARB—unlocking over **$300 million combined** cannot be ignored.
Investors should focus not just on quantity, but on context: project fundamentals, ecosystem activity, investor sentiment, and macro market conditions.
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