October’s token unlock event: TIA, SUI to lead $1 billion affair
October marks significant token unlock events for several major projects.
- 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.
October is shaping up to be a significant month for token unlock events, marking the beginning of the year’s final quarter.
Several major projects will see substantial token releases, with Celestia [TIA] leading the way with a massive unlock worth over $1 billion.
Celestia leads October’s token unlock event
According to data from Token Unlocks, Celestia will have the largest token unlock event this month, scheduled for the 30th of September.
A total of 175.56 million TIA tokens will be unlocked, worth approximately $1.06 billion, representing 81.86% of the circulating supply. These tokens will be distributed to early backers, seed investors, and core contributors.
At the time of writing, TIA is trading around $5.66, reflecting a 2% increase after rebounding from an 8% decline in the previous trading session. TIA’s current market capitalization was $1.2 billion at press time.
SUI to unlock over 60 million tokens
Sui [SUI] will kick off October’s unlock events by releasing 64.19 million SUI tokens on the 1st of October. These tokens are valued at approximately $150 million, accounting for 2.4% of the circulating supply.
Also, as of this writing, SUI was trading around $1.86, up by 5%, continuing its bullish trend. Analysis of its moving averages indicated that a golden cross was imminent, further supporting its upward momentum.
Aptos to unlock 11.31 million tokens
Aptos [APT] is another major project with an upcoming token unlock. On the 11th of October, 11.31 million APT tokens will be unlocked, valued at $91 million and representing 2.25% of its circulating supply.
As of this writing, APT was trading at $8.10, up by 6%, with strong bullish momentum. Its market capitalization was over $4.1 billion.
Other upcoming token unlocks
Other notable token unlocks in October include ZetaChain’s $38.59 million token unlock on the 1st of October, representing 13.43% of its circulating supply.
Also, tokens valued at $58.78 million get unlocked by Immutable X on the 4th of October, which accounted for 2.02% of its circulating supply.
Taiko will release 12 million tokens worth $23.40 million on the 14th of October, representing 15.7% of its circulating supply.
Axie Infinity [AXS], Starknet [STRK], Arbitrum [ARB], and ApeCoin [APE], are scheduled to unlock tokens later in the month.
