Crypto investors face an important week ahead as nearly $973 million in token unlocks hit the market alongside critical macroeconomic data releases that could drive broader market sentiment.
According to data from Tokenomist, eight major token unlocks will occur between March 3-8, 2025, with projects releasing tokens valued at over $973 million to various stakeholder groups including founding teams, private investors, and advisors.
ENA leads token unlocks with $855 million release
The most substantial unlock comes from ENA, which will release tokens worth approximately $855.23 million on March 5. The unlock represents 65.93% of its circulating supply.
According to Tokenomist data, these tokens are being released to both founding team members and private investors. This raises questions about potential sell pressure if these stakeholders choose to liquidate portions of their holdings.
Source: Miles Deutscher With over 21% of ENA’s total supply already unlocked, this upcoming event will push the project past the threshold of having half its tokens in circulation.
This single event accounts for nearly 88% of the total value being unlocked next week. Other notable unlocks include SUI ($106.98 million), NEON ($4.12 million), and several smaller releases from IOTA, AGI, SPELL, CETUS, and HFT.
SUI ranks second with $106.98 million release
SUI follows as the second-largest unlock of the week, with $106.98 million worth of tokens (1.24% of circulating supply) becoming available on March 3. The project has already unlocked 30.76% of its tokens, making this a relatively modest addition to its circulating supply compared to the ENA event.
NEON’s March 7 unlock includes $4.12 million worth of token release. This means that 11.20% of its circulating supply will become available.
With 67.05% of NEON tokens already unlocked, this release pushes the project closer to having three-quarters of its supply in circulation.
Several smaller but still notable unlocks round out the week, including CETUS (1.26% of circulation) on March 6, and a trio of unlocks on March 7: AGI (1.71%), HFT (1.52%), and SPELL (0.83%). IOTA will release a modest 0.24% of its circulating supply on March 4, valued at approximately $1.76 million.
Jobs report and manufacturing data headline packed economic calendar
The token unlock schedule coincides with a week filled with crucial economic reports that could drive market volatility across all asset classes. Friday, March 7 is an important date, featuring both multiple token unlocks and the highly anticipated February jobs report—the same day as the White House Crypto Summit.
The Bureau of Labor Statistics’ employment report will release data on nonfarm payrolls, the unemployment rate, and average hourly earnings at 14:30 EST on Friday.
The previous month’s surprisingly strong payroll addition of 156,000 jobs exceeded economist forecasts of 143,000, while the unemployment rate held steady at 4.0%. Any deviation from the expected numbers could influence Federal Reserve policy expectations and, consequently, risk asset performance.
Before Friday’s data dump, the market will digest several leading indicators throughout the week. Monday brings manufacturing PMI (Purchasing Managers’ Index) figures from both S&P Global and the Institute for Supply Management (ISM).
The current manufacturing sector appears tenuous, with February’s S&P Global Manufacturing PMI coming in at 51.6. This is just barely above the 50-point threshold that separates expansion from contraction.
Wednesday features the ADP employment report, which often serves as a precursor to Friday’s official numbers. February’s ADP report missed expectations, showing 144,000 private-sector jobs added versus forecasts of 183,000.
Wednesday also brings service-sector activity data with the S&P Global Services PMI and ISM Non-Manufacturing PMI reports.
Thursday’s initial jobless claims will provide the final piece of employment data before Friday’s comprehensive report. The previous week’s claims came in at 236,000, slightly better than the 242,000 forecast.
The actual effect of these events on the market, however, is uncertain as the market is already trading in the red.
