Celestia's October 30 unlock, releasing 80.3% of its supply, may trigger major selling pressure and volatility.
Sui and Optimism's unlocks on Nov 1 and Oct 31 may cause short-term volatility, affecting liquidity and prices.
Significant unlocks this week could drive market shifts as investors weigh selling vs. holding strategies.
The crypto market is on edge this week, with over $1.543 billion in token unlocks expected, significantly impacting major players like Celestia, Sui, and Optimism. Token unlocks are releases of pre-existing tokens into circulation, often leading to increased trading volume and possible volatility.
https://twitter.com/WuBlockchain/status/1850715058621587938 Celestia Token Unlock Set for October 30
Celestia, a modular blockchain known for its unique approach to scalability, will unlock 175.59 million TIA tokens on October 30. This unlock represents a staggering 80.3% of Celestia’s total circulating supply. Historically, token unlocks of this size tend to create selling pressure, as early investors and insiders often cash out.
Notably, this unlock includes 117.38 million tokens allocated to private investors, totaling approximately $712.5 million, and 58.21 million tokens for founders and the core team, valued at $353.35 million.
Sui Unlock Scheduled for November 1
Sui, a layer-1 blockchain focused on enhancing speed and security, will unlock 111.06 million tokens on November 1. This release makes up 2.32% of Sui’s circulating supply. Although smaller in percentage than Celestia’s, Sui’s unlocking could still bring short-term market volatility.
The Sui ecosystem is rapidly expanding, and this unlock could either bolster liquidity or prompt holders to sell, affecting price stability.
Optimism Token Unlock Arrives October 31
Optimism, another popular layer-1 blockchain, is set to release 49.83 million OP tokens on October 31. This release represents 2.50% of Optimism’s circulating supply.
Optimism has gained a strong reputation in the Ethereum scaling sector, and this token unlock may stimulate trading activity as investors gauge whether to hold or sell.
Other Notable Unlocks
Several other tokens will also see significant releases this week. Ethena (ENA) will unlock tokens worth $4.87 million on October 30, representing 0.47% of its circulating supply. Immutable (IMX) will release $42.87 million in tokens on November 1, adding 1.98% to its circulating supply.
The market impact of these releases could be substantial, especially given the high value of Celestia’s unlock. Market observers expect potential price shifts, as the newly released tokens may prompt holders to decide between cashing out or maintaining their stakes.
The post Crypto Market Braces for $1.543 Billion in Token Unlocks This Week: Celestia, Sui, and Optimism in Focus appeared first on Crypto News Land.
