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The crypto market is set for a major event in October, as several projects are preparing for major token unlocks. According to data from Token Unlocks, Celestia (TIA), Sui (SUI), and Aptos (APT) are among the projects that will release nearly $1.3 billion worth of tokens.
Sui Leads Early Token Unlocks
The first notable release comes from Sui, which will unlock 64.19 million SUI tokens on October 1. These tokens, valued at $108 million, account for about 2.4% of the total circulating supply. The distribution will benefit early contributors, investors, and Mysten Labs Treasury.
Sui’s price surged nearly 8% leading up to the unlock, riding a 30-day gain of 110%. Analysts attribute this growth to the launch of Grayscale’s Sui Trust and Circle’s upcoming USDC integration with Sui’s ecosystem.
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Aptos and Celestia Set for Larger Unlocks
On October 11, Aptos (APT) will release 11.3 million tokens, accounting for 2.2% of its circulating supply. At current prices, this represents a $91 million distribution to the foundation, community, and early investors. However, Aptos has faced market volatility, with its price dropping to $7.9 after hitting a high of $8.5 just days ago.
The largest token unlock in October will come from Celestia (TIA), with 175.56 million tokens set to hit the market on October 30. This release will account for a massive 82% of its circulating supply, distributed to early backers and investors.
Recently, Celestia raised $100 million in a funding round led by Bain Capital Crypto, boosting the project’s total funding to $155 million. Following this announcement, TIA’s price spiked 14%, settling at around $6.
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Apart from these major releases, smaller token unlocks from projects like Immutable and Arbitrum are also scheduled for October. Overall, the crypto market is expected to see over $3 billion in new tokens entering circulation, a development that could impact market dynamics. Token Unlocks has cautioned investors to stay informed and avoid FOMO during what they are calling “Uptober.”
As market participants brace for this influx, volatility may increase, and some tokens may see pressure on their prices.
