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.

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.