The cryptocurrency market is bracing for a series of significant token unlocks scheduled for the week of February 9–15, 2025, which will test the resilience of supply dynamics and investor sentiment. According to data from Tokenomist, these events represent a critical influx of new supply, headlined by a $15.7 million release of Convex Finance (CONX) tokens.
The most notable unlocks involve three major projects. Aptos (APT) will unlock 11.3 million tokens, valued at approximately $12.09 million, representing 0.69% of its circulating supply, on February 10 at 12:00 p.m. UTC. Avalanche (AVAX) will release 1.67 million tokens worth around $15.15 million, or 0.32% of circulating supply, on February 11 at 12:00 a.m. UTC. The most impactful release by percentage is for Convex Finance (CONX), which will unlock 1.32 million tokens valued at $15.72 million. This constitutes 1.56% of the circulating supply and is scheduled for February 15 at 12:00 a.m. UTC.
While token unlocks inherently introduce potential selling pressure, the actual market impact is nuanced. Analysts note that the APT and AVAX unlocks are relatively modest as a percentage of total circulating supply, and both networks have established track records of managing such events. The CONX unlock, however, warrants closer scrutiny due to its larger relative size. The tokens are typically released to early contributors and the treasury, and market behavior will hinge on whether these entities hold or sell. Historical data on CONX shows a pattern of initial selling pressure followed by stabilization.
The broader market context in February 2025 is cautiously optimistic, with positive Bitcoin ETF flows and continued institutional adoption, which may help cushion the impact. Investors are advised to monitor key metrics such as exchange inflows, wallet activity from known entities, funding rates, and order book liquidity depth around the unlock times to gauge real-time market absorption.
