As October approaches, the cryptocurrency market, in addition to optimistically looking forward to the reappearance of the “Uptober market,” will also see a large number of tokens unlocked next month, with a total release value of more than $1.5 billion.
"Token unlocking" means that the tokens allocated to early investors, team members, and development contributors are released after being locked for a period of time. In other words, the holders will be able to sell the tokens for cash, so it is often regarded as "bad." event".
Cryptocurrency analysis company 10x Research has warned that the unlocking of a large number of tokens may impact the altcoin market, and venture investors may face pressure to lock in recent gains, meaning that “when tokens are unlocked, even if these tokens have positive Momentum, their upside performance will remain limited."
Token Unlocks data shows that there are multiple projects and protocols that will unlock tokens in October this year, with a total value of approximately US$1.53 billion, of which Celestia (TIA) and Sui (SUI) alone account for US$1.05 billion and US$115.5 million respectively. .
Here’s an overview of the tokens and amounts that will be unlocked this month (each worth over $10 million):
October 1: Sui (SUI) token unlocked worth $115.5 million
The Layer1 public chain Sui (SUI) developed by Mysten Labs will unlock 64.19 million tokens on October 1, accounting for 2.4% of its circulating supply and currently worth approximately US$115.55 million.
October 1: ZetaChain (ZETA) tokens unlocked worth $38.59 million
The Layer 1 public chain ZetaChain (ZETA), which raised US$27 million last year and was officially launched earlier this year, will release 54 million tokens on October 1, accounting for 13.43% of the circulating supply. Based on the current currency price, it is worth approximately $38.59 million.
October 4: ImmutableX (IMX) tokens unlocked worth $58.78 million
Web3 Gaming Company, NFT scaling solution ImmutableX (IMX), will unlock 32.47 million tokens on October 4, accounting for 2.02% of the circulating supply and currently worth $58.78 million. As a major player in the NFT space, this unlock could be significant for the broader NFT market.
October 11: Aptos (APT) tokens worth $92.17 million unlocked
Aptos is one of the projects developed by members of the Facebook stablecoin project Libra (later renamed Diem) (the other is Sui). It will release 11.31 million tokens on October 11, accounting for 2.25% of its circulating supply. Currently Valued at approximately $92.17 million.
October 14: Taiko (TAIKO) tokens unlocked worth $23.4 million
The Ethereum Layer2 protocol Taiko (TAIKO) is an open source, Ethereum-equivalent ZK-rollup scaling solution designed to increase transaction processing speed and reduce fees. The protocol will unlock 12 million tokens on October 14, worth approximately $23.4 million at current prices, or 15.7% of its circulating supply.
October 14: Axie Infinity (AXS) tokens unlocked worth $50.43 million
Blockchain game Axie Infinity (AXS) will unlock 9.25 million tokens on October 14, worth approximately $50.43 million at current prices, accounting for 6.14% of its circulating supply.
October 15: StarkNet (STRK) Tokens Unlocked Worth $30.6M
The Ethereum Layer 2 protocol StarkNet (STRK) announced its 2024 roadmap in March this year, promising to increase throughput and reduce transaction fees. The current number of transactions per second (TPS) on the main network has reached 500. The protocol will unlock 64 million tokens on October 15, representing 3.6% of the token’s circulating supply, which are currently worth approximately $30.6 million.
October 16: Arbitrum (ARB) tokens unlocked worth $60.14 million
Arbitrum (ARB) is the first Layer 2 network on Uniswap to reach a total transaction volume of US$150 billion. It will unlock 92.65 million tokens on October 16, accounting for 2.56% of its circulating supply and currently worth approximately 60.14 million. Dollar.
October 17: ApeCoin (APE) tokens unlocked worth $13.04 million
ApeCoin (APE) is the ecological token of the leading NFT project "Boring Ape (BAYC)". It plans to unlock 15.6 million APE tokens (accounting for 2.31% of the circulating supply) on October 17. It is worth approximately $13.04 million.
October 30: Celestia (TIA) tokens unlocked worth $1.05 billion
Modular blockchain Celestia plans to unlock 175.56 million TIA tokens on October 30, accounting for 81.94% of its circulating supply and worth approximately $1.05 billion at current currency prices.
"Overview of token unlocking in October: Celestia and "these projects" will release more than $1.5 billion in tokens in total" This article was first published on "Blocker".
