As we enter October, also known as Uptober in the crypto world, several major projects are gearing up for significant token unlocks. Among the most anticipated is Celestia, with a planned unlock valued at over $1 billion. These unlocks are pivotal moments for the projects and can significantly impact the market. Here’s an overview of the most notable token unlocks scheduled for October.
Celestia’s $1 Billion Unlock – October 30
The most significant unlock in October comes from Celestia. On October 30, the project will release 175.56 million TIA tokens, worth over $1.05 billion at current prices. This large unlock makes up 81.94% of the token’s total supply. After this, Celestia will release 998,580 tokens every day for the next year. This could add around $6 million worth of tokens to the market daily.
This decision follows a successful $100 million fundraising round, led by Bain Capital Crypto. This shows that big investors believe in the project. Traders and investors should watch this closely, as it could affect both short-term and long-term market trends.
Other Key Token Unlocks in October
While Celestia leads the pack, several other prominent crypto projects have token unlocks worth $10 million or more in the coming weeks:
- Sui (October 1): $115.6 million worth of tokens will be unlocked, representing 2.40% of its circulating supply. As a Layer 1 blockchain, this could attract attention from developers and investors alike.
- ZetaChain (October 1): This unlock is worth $38.6 million, or 13.43% of its circulating supply. As one of the largest percentage unlocks, it will be crucial for the project’s future liquidity.
- ImmutableX (October 4): A major player in the NFT ecosystem, ImmutableX will unlock $58.8 million worth of tokens. This unlock could impact the broader NFT market, as the project plays a crucial role in scaling Ethereum NFTs.
- Aptos (October 11): Aptos, known for its Layer 1 blockchain and links to Facebook’s old Libra project, will release $92.2 million worth of tokens. This will be 2.25% of its total supply.
- Taiko (October 14): This Ethereum-based rollup will unlock 12 million tokens, valued at $23.4 million. This unlock represents 15.7% of its circulating supply, making it one of the most significant percentage unlocks of the month.
- Axie Infinity (October 14): The popular blockchain-based game will unlock $50.4 million worth of tokens, accounting for 6.14% of its circulating supply. As a major player in the gaming crypto space, this event could have broader implications for the sector.
- StarkNet (October 15): StarkNet will unlock $30.6 million worth of tokens, which is 3.60% of its total supply. As a Layer 2 scaling solution for Ethereum, it’s worth paying attention to, especially as it keeps improving its network.
- Arbitrum (October 16): Arbitrum, another important project in the Ethereum Layer 2 space, will unlock $60.1 million worth of tokens, which is 2.56% of its total supply.
- ApeCoin (October 17): The token behind the popular Bored Ape Yacht Club will release $13 million worth of tokens, or 2.31% of its circulating supply.
Impact on the Crypto Market
These token unlocks could have significant effects on the market, impacting both liquidity and price action. Large unlocks, such as Celestia’s, often lead to increased market activity and could lead to price volatility. For traders, these events are crucial to watch, as they can provide both risks and opportunities in the market.
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