Highlights
- In recent crypto news, 47th president Donald Trump announced five cryptocurrencies for a U.S. strategic reserve, boosting market sentiment.
- Also, a week ahead has nearly $973 Million in token unlocks scheduled for March 3-8, 2025, which could impact prices or spur volatility.
- Key economic reports this week, including the February jobs report, are set for March 7, coinciding with token unlocks.
Trump disclosed five cryptocurrencies he wishes to include in a new national strategic reserve. He claims that this upcoming reserve aims to position the U.S. as “the Crypto Capital of the World.”
Following this announcement, the market prices of the five cryptocurrencies experienced a swift uptick, which are Bitcoin, Ethereum, XRP, Solana, and Cardano. After a lackluster February 2025, many experts are now looking to March with renewed hope, especially with key events on the horizon.
Moreover, crypto investors are gearing up for a crucial week ahead, as nearly $973 million in token unlocks is set to flood the market.
This influx coincides with key macroeconomic data releases, like the February jobs report, that could influence broader market sentiment, as well.
Keep reading to know what more crypto news the market provides this week.
Crypto News: What Does Weekly Insider Unlocks Show?
In the latest crypto news, Tokenomist reports that eight major token unlocks are set to take place, with significant implications for the market.
Per the data, the most substantial unlock is from ENA, which will release tokens valued at approximately $855.23 Million on March 5. This unlock represents a staggering 65.93% of ENA’s circulating supply.
Following ENA, SUI will see its second-largest unlock of the week, with $106.98 million worth of tokens (1.24% of its circulating supply) becoming available on March 3.
Notably, SUI has already unlocked 30.76% of its tokens, making this release a modest addition compared to the ENA event.
On March 7, NEON will unlock $4.12 million worth of tokens, which equates to 11.20% of its circulating supply.
With 67.05% of NEON tokens already in circulation, this release will bring the project closer to having three-quarters of its total supply available.
The week will also feature several smaller yet significant unlocks. CETUS will release 1.26% of its circulating supply on March 6, while March 7 will see three additional token unlocks, which are AGI (1.71%), HFT (1.52%), and SPELL (0.83%).
Additionally, IOTA will unlock a modest 0.24% of its circulating supply on March 4, valued at around $1.76 Million.
Likelihood of Volatility Amid Key Economic Reports?
Alongside the upcoming token unlocks, this week is packed with critical economic reports that could spark market volatility across all asset classes.
Notably, Friday, March 7, stands out as a significant date, featuring multiple token unlocks alongside the highly anticipated February jobs report and the White House Crypto Summit.
Moreover, per the economic calendar, the Bureau of Labor Statistics will release its employment report at 14:30 EST on Friday. It will provide insights into nonfarm payrolls, the unemployment rate, and average hourly earnings.
As per last month’s data, the job market surprised many with a robust addition of 156,000 jobs, surpassing economists’ expectations of 143,000, while the unemployment rate remained steady at 4.0%.
Now, in the upcoming report, any significant deviation from the expert’s anticipated figures could impact Federal Reserve policy expectations. As a result, it could majorly affect the performance of risk assets.
Similarly, leading up to Friday’s data release, the market will be digesting several key indicators throughout the week.
On Monday, manufacturing PMI (Purchasing Managers’ Index) figures from both S&P Global and the Institute for Supply Management (ISM) will be unveiled.
Wednesday will bring the ADP employment report, often seen as a precursor to the official numbers released on Friday.
On Thursday, initial jobless claims will provide the final piece of employment data before the comprehensive report on Friday.
Despite the significance of these events, the actual impact on the market remains uncertain, especially as trading is already showing signs of weakness.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
