- The upcoming weeks in “Uptober” will witness the unlocking of token supplies for several notable cryptocurrency projects.
- Among the most significant of these unlockings is from Celestia, with a planned release valued at over $1 billion at current prices.
- Here is an overview of all token unlocks valued over $10 million, as listed by Token Unlocks data.
The upcoming “Uptober” weeks will see major cryptocurrency token unlocks, including a noteworthy $1 billion unlock by Celestia. Find out which projects will affect the market.
Major Cryptocurrency Token Unlocks Scheduled for Uptober
In the dynamic world of cryptocurrencies, October, or “Uptober,” is set to be a significant month, marked by numerous planned token unlocks by major projects. Token unlocks can often have substantial impacts on the market, influencing both liquidity and token value. The data from Token Unlocks highlights several key projects set to release significant token amounts.
Sui’s $115.55 Million Token Unlock
Sui, a Layer 1 blockchain platform, is preparing to unlock tokens valued at approximately $115.55 million on October 1st. This release accounts for about 2.40% of its circulating supply, which could potentially influence its market dynamics significantly.
ZetaChain’s Strategic Unlock
Scheduled for October 1st, ZetaChain will release tokens worth around $38.59 million, representing 13.43% of its circulating supply. This significant proportion suggests a careful strategy that may impact the broader market and investor sentiment.
Impact of ImmutableX’s Unlock
ImmutableX, an Ethereum-based NFT scaling solution, plans to unlock tokens worth approximately $58.78 million on October 4th. This represents about 2.02% of its circulating supply. As a key player in the NFT domain, this unlock could have far-reaching effects on the NFT market.
Aptos and Taiko: Upcoming Unlocks
Aptos, another Layer 1 blockchain project, will unlock tokens valued at around $921.7 million on October 11th, accounting for 2.25% of its circulating supply. Having gained attention due to its ties with Facebook’s former Libra project, Aptos remains a critical entity to watch.
Taiko’s Significant Unlock
Taiko, a rollup based on Ethereum, scheduled to unlock $23.4 million worth of tokens on October 14th. This release, which constitutes 15.70% of its circulating supply, marks the second most significant unlock percentage-wise in October.
Axie Infinity’s Unlock
On October 14th, Axie Infinity, a popular blockchain-based game, plans to unlock tokens valued at approximately $50.43 million. This accounts for 6.14% of its circulating supply. The game recently garnered attention when the Norwegian government returned $5.7 million linked to the Ronin Bridge hack associated with Axie Infinity.
StarkNet and Arbitrum: Layer 2 Advancements
StarkNet, an Ethereum Layer 2 scaling solution, is set to unlock $30.60 million worth of tokens on October 15th, representing 3.60% of its circulating supply. StarkNet has been striving to enhance its network capabilities and reduce transaction costs, recently reaching 500 TPS on its mainnet.
Arbitrum’s Unlock
On October 16th, Arbitrum, another Ethereum Layer 2 solution, will release tokens valued at approximately $60.14 million, accounting for 2.56% of its circulating supply. Arbitrum has gained considerable attention within the DeFi ecosystem and has recently achieved significant milestones in transaction volume.
ApeCoin’s Approach
ApeCoin, associated with the Bored Ape Yacht Club ecosystem, plans to unlock tokens worth around $13.04 million on October 17th, representing 2.31% of its circulating supply.
Celestia’s Major Token Release
Celestia has scheduled a significant unlock on October 30th at 1:59 PM UTC, planning to release 175.56 million TIA tokens valued at approximately $1.05 billion. This represents a staggering 81.94% of its circulating supply. Furthermore, this event marks the commencement of a plan to release 998,580 tokens daily for a year, valued at nearly $6 million per day at current prices. This comes after a recent $100 million fundraising round led by Bain Capital Crypto, as reported by COINOTAG.
Conclusion
October is shaping up to be a pivotal month in the cryptocurrency space, with major token unlocks set to impact various projects and the broader market. Investors should stay informed about these developments and consider the potential market implications. As always, maintaining a well-researched and balanced investment strategy will be key in navigating this dynamic landscape.
