As a seasoned crypto investor with a knack for recognizing potential, I find myself intrigued by the upcoming events in October. The imminent token releases from Celestia, Sui, and Aptos are poised to shake up the market, and as always, I’m eagerly watching the dance between volatility and opportunity.
The upcoming month presents significant opportunities within the crypto sector, with three notable blockchain projects – Celestia, Sui, and Aptos – gearing up for substantial events. As per Token Unlocks’ data, these projects are preparing to release tokens worth approximately $1.3 billion, which will be distributed among ecosystem participants. Here is a brief overview of each project:
Just as anticipated, this substantial release of tokens could lead to considerable changes within the cryptocurrency market. In other words, with investors and traders preparing themselves for the potential effects on liquidity and token prices that these releases might bring.
Sui to Unlock $108 Million in Tokens on October 1
According to the latest update, Sui is set to initiate the sequence of token releases on October 1st. This leading, rapidly expanding Layer 1 blockchain network will unveil around 64.19 million SUI tokens, roughly equivalent to $108 million. It’s important to note that these tokens represent 2.4% of Sui’s current supply. These tokens will be distributed among Series A and B investors, early contributors, Mysten Labs Treasury, and reserves intended for the platform’s community.
It’s noteworthy that the SUI token has seen a surge in momentum prior to the upcoming unlock. The impressive growth of SUI is evident from the 8% increase it recorded last week, and its remarkable 110% rise over the past month.
The analysts attribute the potential profits to the debut of the Grayscale Sui Trust and the planned incorporation of Circle’s USDC stablecoin.
Aptos to Release $91 Million in Tokens on October 11
Speaking of notable blockchain ventures, Aptos is one of them preparing for a token launch in October. On October 11th, they’ll release approximately 11.3 million APT tokens, valued at around $91 million. These tokens account for about 2.2% of the circulating APT supply and will be distributed among the foundation, community participants, key developers, and investors.
Interestingly, while Sui’s token is seeing an increase in value as it approaches its unlock, Aptos isn’t showing the same trend. The APT token peaked at $8.5 during the weekend due to a larger crypto market surge. However, it quickly dropped back below $8 soon after. At the time of writing, Aptos was seen trading around $7.9, representing a 1% decrease in the last 24 hours, as per CoinGecko’s data.
Celestia to Unlock 82% of Its Circulating Supply on October 30
On October 30th, Celestia is set to release the biggest token distribution of the month, amounting to 175.56 million TIA tokens. This release makes up an impressive 82% of the token’s current circulation. The distributed tokens will be allocated among early project supporters, Series A and Series B investors, as well as key contributors who have been instrumental in the development of the project.
In the latest news, Celestia garnered attention after successfully raising $100 million in a round spearheaded by Bain Capital Crypto. This development might have influenced the surge of TIA’s price by 14%, reaching $6.7. Nevertheless, the price has now stabilized at approximately 6%.
Essentially, the tokens released in October aren’t confined to just the three projects you’ve listed. Smaller token releases are also anticipated from Immutable, Arbitrum, and numerous other platforms. Consequently, it’s likely that October could see a substantial amount of tokens being liberated, potentially making it a pivotal month in the crypto market.
Read More
Sorry. No data so far.
2024-09-30 13:47