As September comes to a close, the cryptocurrency market has delivered impressive results, especially for Bitcoin (BTC), which has recorded its best-ever September performance. As of September 30, BTC is trading around $64,400, reflecting a gain of more than 9% for the month. Altcoins have also shown strong performance, painting the market in a bright green as it heads into October — historically considered a positive period for Bitcoin, with investors coining the term “Up to ber” to describe its upward trajectory during the final months of the year.
Significant Token Unlocks Expected in October 2024
October 2024 is set to see a major wave of token unlocks, with approximately $2.25 billion worth of tokens scheduled to be released, surpassing September’s $1.6 billion in unlocks. These unlocks are expected to influence token prices and market dynamics, making it an important period for investors to watch.
Key Token Unlocks:
- Oct 1: Zeta Chain unlocks 53.89 million ZETA tokens (13.43% of circulating supply), worth $38.5 million.
- Oct 3: Sui unlocks 64.19 million SUI (2.4% of circulating supply), worth $106 million.
- Oct 4: ImmutableX unlocks 32.47 million IMX tokens (2.02% of circulating supply), worth $57 million.
- Oct 7: Neon unlocks 53.91 million NEON tokens (93.4% of circulating supply), worth $19.5 million.
- Oct 11: Moca Network unlocks 180.9 million MOCA tokens (15.9% of circulating supply), worth $20.5 million.
- Oct 12: Aptos unlocks 11.31 million APT tokens (2.25% of circulating supply), worth $88 million.
- Oct 14: Axie Infinity unlocks 12.58 million AXS tokens (8.35% of circulating supply), worth $67 million.
- Oct 15: Starknet unlocks 64 million STRK tokens (3.61% of circulating supply), worth $29 million.
- Oct 16: Arbitrum unlocks 92.63 million ARB tokens (2.57% of circulating supply), worth $59 million.
- Oct 19: Polyhedra Network unlocks 15.5 million ZKJ tokens (1.5% of circulating supply), worth $10 million.
- Oct 27: Ronin unlocks 34.67 million RON tokens (accounting for 9.89% of circulating supply), worth $65 million.
- Oct 31: Celestia unlocks 175.74 million TIA tokens (accounting for 82% of circulating supply), worth $1.1 billion.
Several Layer 1 and Layer 2 platforms, such as Sui, Aptos, ImmutableX, and StarkNet, will lead the unlock wave. NEON, with its significant 93.4% release of circulating supply on October 7, and tokens like MOCA and ZETA, could see price volatility due to the high percentage of unlocked tokens relative to supply.
Additional Smaller Unlocks:
- Hook Protocol (Oct 1): Unlocks $4 million worth of HOOK tokens.
- Galxe (Oct 5): Releases $7.5 million worth of GAL tokens.
- ApeCoin (Oct 17): Unlocks $12.5 million in APE tokens.
- Maverick Protocol (Oct 28): Will release $12 million worth of MAV tokens.
Impact on the Market
The scheduled unlocks in October could potentially exert selling pressure on some tokens, but as demonstrated by SUI and TAO tokens in September — which saw price gains of over 100% despite significant unlocks — market sentiment, project quality, and other factors will play a crucial role in shaping price movements.
Investors are advised to monitor these unlocks closely and stay informed to make well-timed buying and selling decisions.
For further insights, readers can refer to token unlock schedules available on platforms like Token Unlocks and CryptoRank.
Related news: Most Notable Token Unlock Schedule Next Week (August 19 – August 25)
