Upcoming October Token Unlocks Could Release $1.3 Billion in Crypto

Several cryptocurrency projects are set to make substantial token releases next month, notably Celestia, Sui, and Aptos, with a combined distribution of around $1.3 billion to their respective ecosystems.

Kicking off on October 1, Sui will unlock 64.19 million tokens valued at approximately $108 million, representing 2.4% of its circulating supply. These tokens will be distributed to early investors, contributors, and community reserves. In anticipation of the release, Sui’s value increased by nearly 8% over the past week and surged 110% in the last month, likely due to the Grayscale Sui Trust launch and Circle’s upcoming USDC integration.

Aptos plans to release 11.3 million tokens on October 11, equivalent to about 2.2% of its supply and worth around $91 million. However, APT has faced some price fluctuations, reaching a high of $8.5 recently before falling to approximately $7.9.

On October 30, Celestia will see the largest unlock, distributing 175.56 million tokens, which accounts for about 82% of its circulating supply. The tokens will go to early backers and investors. Celestia recently raised $100 million, boosting its total funding to $155 million. Following this news, TIA’s price jumped 14% to $6 but later settled around $6.

READ MORE:

Binance Pool Unveils New Merged Mining with LTC and DOGE Rewards

In addition to these significant unlocks, smaller distributions are expected from projects like Immutable and Arbitrum. The influx of tokens could exceed $3 billion, potentially impacting market dynamics. The Token Unlocks team highlights the importance of staying informed amid the anticipated changes in the market.

Alexander Stefanov