DefiLlama reports that cryptocurrencies worth $1.87 billion (equivalent to IDR 28.3 trillion) will be unlocked in October 2024. Token unlock events often attract the attention of investors and traders as the availability of more tokens in the market can trigger volatility, significantly impacting investment or trading plans.
This article discusses the five largest cryptocurrency token unlocks scheduled for October 2024, providing insights into potential market impacts and helping you plan investment strategies.
Celestia (TIA)
TIA will unlock 176.5 million tokens on October 31, 2024, which represents 83.06% of the total circulating supply. This unlock, valued at $1.12 billion, will allocate tokens for ecosystem research and development, core contributors, and seed, Series A, and Series B investors.
This is Celestia’s first unlock since its token generation event (TGE) in October 2023. Unlocking a large portion of tokens for investors may create selling pressure around the unlock date.
ZETA
ZETA will unlock 443.52 million tokens on October 18, 2024, accounting for 100.29% of its total circulation, with a value of $283.32 million. The allocation of these tokens is for user growth, ecosystem development, liquidity incentives, key contributors, project advisors, and protocol treasury.
Previously, an unlock of the same token amount and allocation took place on September 18, 2024. Interestingly, ZETA’s price increased by +30% in one day following the unlock, possibly influenced by other altcoins rallying after the U.S. Federal Reserve announced interest rate cuts.
Sui (SUI)
SUI will unlock 98 million tokens on October 1, 2024, representing 3.66% of its total circulation, valued at $165.4 million. Series A and B investors, early contributors, Mysten Labs treasury, and community reserves will receive the tokens.
In the previous unlock on September 1, 2024, the same number of tokens and allocation caused the SUI price to drop by 8.8% a day after the unlock.
Aptos (APT)
On September 11, 2024, APT released 11.31 million tokens, representing 2.26% of its total circulation and valued at $95.09 million. Aptos Foundation, the community as part of routine monthly unlocks, contributors, and investors received the unlocked tokens.
The last unlock occurred on September 12, 2024, with the same token amount and distribution. Following the event, APT’s price fell by 9% over three days.
Arbitrum (ARB)
ARB will unlock 92.65 million tokens on October 15, 2024, representing 2.56% of its total circulation, valued at $57.27 million. The team, advisors, and investors will receive the tokens.
The previous unlock occurred on September 14, 2024, with the same number of tokens and allocation. Following this, ARB’s price dropped by 7.5% within two days of the unlock.
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