October’s token unlock event: TIA, SUI to lead $1 billion affair

by
    Celestia leads October’s token unlocks, releasing $1.06 billion worth of TIA tokens into circulation.
    In October, Sui and Aptos will unlock tokens worth $150 million and $91 million, respectively.

As a seasoned analyst with years of experience in the cryptocurrency market, I must admit that October is shaping up to be an exciting month for token unlock events. The sheer magnitude of the releases, particularly Celestia’s $1.06 billion unlock, is truly unprecedented and could potentially have significant implications on the market dynamics.

As a crypto investor, I’m eagerly anticipating October, which seems poised to bring notable token unlock events. These events are set to kick off the last leg of the year, promising potential shifts and developments in the crypto market as we move towards the end of 2022.

A significant number of key initiatives are set to distribute large quantities of tokens, with Celestia taking the front seat by unlocking a massive value exceeding one billion dollars.

Celestia leads October’s token unlock event

As per Token Unlocks’ information, the biggest token release event by Celestia is planned for the 30th of September this month.

Read more$70 million in 24 hours: Can Ethereum crack $4,000 thanks to whales?

175.56 million TIA tokens, valued around $1.06 billion, which make up about 81.86% of the current supply, are set to be released. This release is intended for early supporters, seed funders, and key team members who significantly contributed to the project.

presently, TIA‘s stock price stands approximately at $5.66 per share, representing a 2% rise following a recovery from an 8% drop during the last trading day. At this moment, TIA has a total market value of about $1.2 billion.

SUI to unlock over 60 million tokens

Starting October, SUI‘s unlock events begin with the distribution of about 64.19 million SUI tokens on the first day of the month. This amount is roughly equivalent to $150 million, representing around 2.4% of the current total supply in circulation.

Read moreBitcoin halving could be a ‘sell-the-news’ event, at least for a few months

Currently, the price of SUI is approximately $1.86, representing an increase of 5%. This positive trend seems to be ongoing. A close examination of its moving averages suggests that a golden cross could soon occur, which would strengthen its upward trajectory.

Aptos to unlock 11.31 million tokens

On October 11th, a significant amount of APT tokens – 11,310,000 units worth approximately $91 million – are due to be released. This represents about 2.25% of the current circulating supply of this notable project.

Currently, APT is being traded at a price of $8.10, marking an increase of 6%. The stock is experiencing robust upward pressure, reflecting bullish sentiments among investors. Moreover, its total market value surpasses $4.1 billion.

Other upcoming token unlocks

Remarkable token releases in October also included the unfreezing of ZetaChain’s tokens worth approximately $38.59 million on October 1st, which equated to around 13.43% of their total circulating tokens.

Read morePEPE flips Optimism: Can OP emerge from the memecoin mania?

Moreover, on October 4th, Immutable X unlocked tokens worth approximately $58.78 million, representing around 2.02% of its total circulating supply.

On the 14th of October, Taiko is planning to distribute 12 million tokens with a total value of approximately $23.40 million. This release makes up around 15.7% of their current token circulation.

These cryptocurrencies – Axie Infinity’s AXS, Starknet’s STRK, Arbitrum’s ARB, and ApeCoin’s APE – have planned token releases coming up this month.

Read More

2024-10-01 22:15