$120M Token Unlocks for GRASS, JUP, ZORA to Test Market in October's Final Week: A Comprehensive Breakdown
Introduction
The final week of October 2025 is poised to be a significant period for the cryptocurrency market, with over $653 million in tokens scheduled for release across various projects. Among these, three major unlocks stand out, collectively injecting approximately $120 million in new supply into the ecosystem. Grass (GRASS), Jupiter (JUP), and Zora (ZORA) are set to release substantial portions of their token supplies between October 28 and October 30. These events represent critical tests for their respective markets, introducing new liquidity that could influence short-term volatility and trader sentiment. This article provides a detailed, factual breakdown of each unlock, examining the scale, recipients, and context for these pivotal moments.
Understanding Token Unlocks and Their Market Role
Token unlocks are scheduled events where previously locked or vested tokens are released into circulation. These are typically allocated to early investors, project teams, and treasury reserves as outlined in a project's tokenomics. From a market perspective, unlocks increase the circulating supply of a token. Historically, such events can lead to increased selling pressure if recipients choose to liquidate their holdings, though this is not a guaranteed outcome. The impact is often measured by the size of the unlock relative to the existing circulating supply and the prevailing market conditions. The unlocks for GRASS, JUP, and ZORA are notable not only for their combined value but also for their timing, occurring within a narrow three-day window and involving distinct sectors of the crypto market.
Grass (GRASS): A Major Supply Influx for Bandwidth Monetization Network
- Unlock Date: October 28
- Tokens Unlocked: 181 million GRASS
- Value: $80.24 million
- Percentage of Total Supply: 18%
The Grass project is preparing for its first major token unlock since its token generation event (TGE) in October 2024. The unlock of 181 million GRASS tokens represents a significant event, as it will increase the circulating supply from 313.3 million to 494.3 million tokens. With a total supply capped at 1 billion GRASS, this release constitutes 18% of all tokens that will ever exist.
Grass is a decentralized network that enables users to monetize their unused internet bandwidth. By leveraging blockchain technology, it rewards participants in a privacy-preserving manner, aiming to create a global network for accessible data sourcing.
The allocation of these newly unlocked tokens is heavily weighted toward early backers. Of the 181 million tokens, 126 million GRASS (approximately 70% of the unlock) are designated for early investors. The remaining 55 million GRASS are allocated to project contributors. Given that this is the project's first major unlock, market participants will be closely watching the trading activity following the event to gauge investor confidence and long-term holding patterns.
Jupiter (JUP): A Scheduled Unlock for Solana's Liquidity Aggregator
- Unlock Date: October 28
- Tokens Unlocked: 53.47 million JUP
- Value: $23.58 million
- Percentage of Total Supply: 0.76%
Jupiter, a leading decentralized liquidity aggregator on the Solana blockchain, will unlock 53.47 million JUP tokens on October 28. This event is part of a recurring monthly cliff vesting schedule. While the number of tokens may seem substantial, it represents only 0.76% of Jupiter's total supply of 7 billion JUP and 1.72% of its current circulating supply of 3.16 billion JUP.
The project's core function is to optimize trade routes across multiple decentralized exchanges (DEXs) on Solana, providing users with the best possible prices for token swaps while minimizing slippage.
The allocation for this unlock is directed internally. The project team is set to receive 38.89 million JUP, while Mercurial stakeholders will be allocated 14.58 million JUP. As a established player in the DeFi ecosystem, Jupiter's regular unlocks are often absorbed by the market with measured volatility, but the concentration to team and stakeholders remains a point of observation.
Zora (ZORA): Unlocking Value for the Creator Economy Protocol
- Unlock Date: October 30
- Tokens Unlocked: 166.67 million ZORA
- Value: $16.3 million
- Percentage of Total Supply: 1.67%
Zora, a decentralized protocol and social network designed to support the creator economy, will complete the week's major unlocks on October 30. The release of 166.67 million ZORA tokens is valued at $16.3 million and represents 1.67% of its total supply of 10 billion ZORA. This unlock will increase the circulating supply from 4.469 billion to approximately 4.636 billion ZORA, a change of about 4.55%.
The protocol allows users to mint and trade digital content—such as posts or images—as crypto tokens, empowering creators to monetize their work directly.
The distribution of ZORA tokens is split among three key groups: investors will receive the largest share of 72.5 million tokens, followed by the team with 52.5 million tokens, and the project treasury with 41.67 million tokens. This balanced allocation across investors, builders, and the project's future resources highlights Zora's focus on sustaining its ecosystem.
Comparative Analysis: Scale, Stakeholders, and Market Context
While all three projects are undergoing significant unlocks, their scale and context differ markedly.
- Scale Relative to Supply: Grass’s unlock is by far the most substantial in terms of its impact on total and circulating supply. Releasing 18% of its total supply dwarfs Zora's 1.67% and Jupiter's 0.76%. This makes the GRASS unlock a more transformative event for its own market dynamics.
- Recipient Focus: The primary beneficiaries also vary. Grass is predominantly rewarding its early investors (70% of the unlock), Jupiter is allocating tokens to its team and strategic stakeholders (Mercurial), and Zora is employing a three-pronged approach for investors, team, and treasury.
- Sector Representation: The unlocks showcase different facets of the Web3 ecosystem. Jupiter operates in decentralized finance (DeFi), Zora in non-fungible tokens (NFTs) and social infrastructure, and Grass in decentralized physical infrastructure networks (DePIN).
Conclusion: A Barometer for Market Maturity
The coordinated release of over $120 million in tokens from Grass, Jupiter, and Zora provides a concentrated case study on how modern crypto markets absorb new supply. These are not isolated events; they occur alongside other notable unlocks from projects like Kamino Finance (KMNO), Optimism (OP), and Immutable (IMX), contributing to a total weekly unlock value exceeding $653 million.
For market participants, these events underscore the importance of understanding a project's tokenomics and vesting schedule before investment. The immediate aftermath will serve as a barometer for the maturity and depth of the markets for GRASS, JUP, and ZORA tokens. Observers should monitor trading volumes and order book depth on major exchanges following each unlock date to assess how efficiently the market distributes the new supply.
Ultimately, while token unlocks introduce potential selling pressure, they are also a necessary step in a project's lifecycle, rewarding early supporters and teams while decentralizing ownership. How these three distinct projects navigate this phase will offer valuable insights into investor sentiment and the evolving strength of their underlying ecosystems