$3.42B in tokens set to be unlocked in October 2024

October 2024 will witness the release of over $3.42 billion worth of tokens into the cryptocurrency market, marking one of the largest token unlock events of the year.

Among these, approximately $1.6 billion will be cliff unlocks, where tokens are released periodically rather than daily.

The token unlocks involve major projects such as Celestia (CRYPTO:TIA), Sui (CRYPTO:SUI), Aptos (CRYPTO:APT), and Arbitrum (CRYPTO:ARB), and crypto investors are closely monitoring these events, which could introduce increased volatility and selling pressure into the market.

Sui (SUI) will kick off the unlock events on October 1, releasing 64.19 million tokens worth $106 million, accounting for 2.40% of its circulating supply.

These tokens will be distributed across Series A and B investors, early contributors, the Mysten Labs treasury, and a community reserve.

Next, on October 4, Immutable (CRYPTO:IMX) will release 32.47 million tokens valued at approximately $59.10 million, representing 2.02% of its circulating supply.

These tokens are earmarked for ecosystem development and project-related activities.

Aptos (APT) will release 11.31 million tokens worth $96.25 million on October 11.

This unlock will distribute tokens to the foundation, community, core contributors, and investors, totaling 2.25% of Aptos’ supply.

On October 16, Arbitrum (ARB) will unlock 92.65 million tokens valued at $61.90 million, distributing them to team members, advisors, and investors.

The unlock accounts for 2.56% of the token’s circulating supply.

The largest unlock will occur on October 30, when Celestia (TIA) will release 175.56 million tokens worth $1.12 billion.

These unlocks are expected to significantly influence the market, and investors are advised to stay informed about the potential market impact.