September 2025 Token Unlock Recap: SUI, ENA & APT

“Nearly half a billion dollars in altcoin tokens have already been unlocked this September.”

From Solana’s layer-1 competitors to newer DeFi projects, September 2025 has delivered one of the heaviest token release schedules of the year. The numbers are striking: SUI unlocked $189 million on September 1, Ethena (ENA) followed with ~$61 million, and Aptos (APT) released nearly $48.5 million in mid-September.

These aren’t just technical calendar events. Unlocks inject fresh supply into circulation, testing how much demand the market can absorb. For traders, the lessons are clear: watching unlock schedules helps anticipate liquidity pressure, price volatility, and whale positioning. In this recap, we’ll break down the biggest unlocks so far, what they revealed about market sentiment, and the signals to track for the rest of September.

Caption: September 2025 saw over $340M unlocked across major altcoins — SUI, ENA, APT, STRK, and SEI — creating clustered liquidity pressure in a short window.

SUI Unlock Recap – September 1, 2025

The month started with the largest event: SUI released $189 million in tokens, equal to about 1.3% of its total supply.

Why It Mattered

• Scale vs. Liquidity: At the time, $189M represented nearly 5x SUI’s average daily trading volume. This mismatch magnified the risk of sell pressure.

• Market Impact: In the days around the unlock, price volatility spiked as traders repositioned. While not all unlocked tokens hit exchanges immediately, even partial selling strained order books.

• Whale Behavior: On-chain trackers flagged increased activity from large SUI wallets in late August — a sign that whales often prepare weeks ahead of major unlocks.

Lessons for Traders

• Don’t just note the unlock date — compare the unlock size to average daily volume.

• Watch exchange inflows in the days leading up to the unlock. Whales typically move tokens early.

• Post-unlock, look for whether tokens flow to cold wallets (accumulation) or exchanges (distribution).

ENA Unlock Recap – September 2, 2025

The day after SUI’s release, Ethena (ENA) unlocked tokens worth approximately $61.3 million. While smaller in size, the event was notable because of ENA’s relatively modest trading volume and young ecosystem.

Why It Mattered

• Concentration Risk: Unlike larger-cap assets, ENA’s liquidity pool is thinner. This means a $61M unlock carried proportionally higher impact on price stability.

• Investor Sentiment: ENA’s community and backers had framed the unlock as growth-driven, but early holders moving tokens into circulation still added uncertainty.

Lessons for Traders

• Smaller-cap projects can feel outsized effects from even mid-tier unlocks.

• Narrative (“growth” vs. “dilution”) shapes how markets react — watch community and project messaging.

• Always weigh unlock size against project maturity: newer tokens often see sharper sentiment swings.

APT Unlock Recap – September 12, 2025

Midway through the month, Aptos (APT) released roughly $48.5 million in tokens. The event drew attention because part of the allocation was linked to foundation and ecosystem support.

Why It Mattered

• Allocation Dynamics: Foundation-linked unlocks are closely watched, since funds earmarked for operations or development can add continuous sell pressure if monetized.

• Market Timing: The unlock landed during a period of subdued market volume, amplifying the liquidity strain.

• Whale Positioning: On-chain data suggested several large APT holders shifted balances shortly after the unlock, hinting at mixed strategies between profit-taking and accumulation.

Lessons for Traders

• Understand who receives unlocked tokens: team, foundation, or community allocations behave differently.

• Unlocks landing in low-volume weeks often magnify volatility.

• Track large wallets post-event to see if new supply fuels selling or builds long-term positioning.

What Traders Should Watch Next in September

September isn’t done yet — two more notable unlocks landed in the second half of the month, adding to the liquidity story.

STRK Unlock – September 15, 2025

Starknet (STRK) released ~$16.3 million in tokens, a smaller figure compared to SUI or APT. But in ecosystems where total market liquidity is limited, even mid-range unlocks can test stability.

• Key Factor: STRK’s community relies heavily on DeFi protocols. An unlock at this scale increases circulating supply that may quickly flow into staking pools or exchanges.

• Trader Signal: If staking participation rises post-unlock, it reduces immediate sell pressure. If exchange inflows dominate, volatility risk grows.

SEI Unlock – September 16, 2025

Just one day later, SEI unlocked ~$27.8 million in tokens. While the dollar figure was modest, its timing is significant.

• Key Factor: Back-to-back unlocks (STRK on the 15th, SEI on the 16th) concentrated new supply into a narrow window.

• Trader Signal: Watch whether SEI’s trading pairs experience liquidity fragmentation — smaller markets often struggle to absorb clustered events without sharp swings.

The Clustering Effect

When multiple unlocks occur close together, the cumulative impact matters more than each event alone.

• In September, SUI, ENA, APT, STRK, and SEI together released over $340 million into circulation.

• This clustering adds stress across altcoin markets, as liquidity providers and traders must absorb several supply shocks in short succession.

• For investors, it’s not just about tracking individual tokens but also recognizing when the market faces unlock-heavy weeks that increase systemic volatility.

Trader Signals to Watch After September’s Unlocks

September’s unlocks across SUI, ENA, APT, STRK, and SEI revealed a clear set of patterns that traders can carry forward into future events. These signals go beyond individual tokens and highlight how altcoin markets behave under supply pressure.

1. Market Absorption vs. Unlock Scale

When unlocks exceed 3–5x average daily volume (as seen with SUI), volatility rises sharply. Traders should compare upcoming unlock values against liquidity before setting positions.

2. Community Narrative and Sentiment

ENA showed that mid-tier unlocks can trigger disproportionate reactions when the community views them as "dilution" rather than "ecosystem growth." Community messaging and Massachusetts AI Cybersecurity threats can impact market sentiment more than technical indicators.

3. Allocation Type Matters

APT’s foundation-linked release demonstrated that who receives unlocked tokens influences impact. Team or foundation allocations often weigh heavier on sentiment than community rewards.

4. Clustering Amplifies Pressure

Back-to-back unlocks, like STRK and SEI, stressed liquidity more than either event alone. When multiple tokens unlock in the same week, expect fragmented liquidity and sharper moves across correlated markets.

5. Pre-Unlock Positioning by Large Holders

Across tokens, whales showed consistent behavior: wallets often activated days before unlocks, shifting tokens or preparing for inflows. Traders who track these early signals gain an informational edge.

Why Unlock Data Alone Isn’t Enough

Token unlocks give valuable signals, but they don’t tell the whole story. Traders relying only on unlock schedules risk missing the broader context:

• Custodial Movements: Not every unlocked token hits exchanges. Some are redistributed to custodians, staking contracts, or vesting wallets.

• Priced-In Risk: Markets often adjust ahead of well-publicized unlocks, muting the immediate impact.

• Macro Environment: Liquidity conditions, regulatory headlines, Massachusetts Crypto Security Guide and BTC/ETH price action often outweigh unlock events.

• Liquidity Absorption: Even large unlocks can be neutralized if demand is strong, as seen in projects with active staking or ecosystem incentives.

Takeaway

Unlocks are one piece of the puzzle. Used alongside whale tracking, market volume analysis, and sentiment data, they help traders understand when new supply truly matters.

Conclusion

At Bitcoin World News, we’ve been tracking how supply shocks affect market liquidity. September 2025 has already proven that token unlocks are more than calendar events — they’re market-shaping liquidity tests. From SUI’s $189M release to Aptos’ $48.5M allocation, these events revealed how supply shocks ripple through altcoins: thinner markets absorb less, narratives steer sentiment, and whales often position ahead of retail.

For traders, the value lies in treating unlocks not as one-off risks but as repeatable signals. Scale vs. volume, allocation type, and clustering patterns will continue to matter in October, November, and beyond.

By combining unlock analysis with whale tracking and liquidity monitoring, investors gain a framework that reduces guesswork and adds foresight. In fast-moving altcoin markets, that foresight is an edge.

Dive deeper into strategies for monitoring large holders in our Altcoin Whale Tracking Analysis.