$1.2B in token unlocks: Sui, EigenLayer, Optimism, and more

The total volume of token unlocks for the week of October 27 to November 2 will exceed $1.2 billion, making it one of the largest weeks in the fall unlock cycle.

Many of the projects unlocking tokens this week launched during last year’s bull market and are now entering major vesting phases.

Chart of token unlocks by week. Source: tokenomist.ai

Optimism (October 31): One of the largest unlocks among Layer-2 networks. Over 31.3 million OP tokens (about $14.4 million) will go to core contributors and investors. These groups typically create selling pressure once their tokens enter circulation.

Immutable (October 31): The project will distribute 24.52 million IMX tokens (roughly $13.7 million) to developers, ecosystem partners, and internal funds. This will be one of the largest GameFi-related unlocks this quarter.

EigenLayer (November 1): 36.82 million EIGEN tokens (around $42.3 million) will be released to investors and early participants, continuing allocations tied to the project’s Layer-2 expansion and new staking products.

Sui (November 1): The Sui project plans to distribute 43.96 million SUI tokens (over $115.6 million) to Series B participants, the community reserve, early contributors, and Mysten Labs’ treasury. Given the scale and investor profile, the unlock could increase price volatility.

Historically, Sui’s last three unlocks have been followed by price declines as new supply entered the market. However, this pattern doesn’t guarantee another drop. Investors should remain cautious and manage risk accordingly.

Correlation of SUI price and unlock events. Source: tokenomist.ai

ZetaChain (November 1): The multichain platform will unlock 37 million ZETA tokens (about $6.5 million) for the team, advisors, and ecosystem growth funds. With a focus on developer and user incentives, this unlock is viewed as positive for long-term network growth.

Ethena (November 2): The foundation will unlock 40.6 million ENA tokens worth $20.26 million. Previous unlocks of this kind have triggered short-term spikes in trading activity.

The surge in unlock volume this fall reflects the timing of projects launched during the 2024 bull run. As a result, October and November 2025 mark the peak of this year’s vesting cycle.