Several crypto projects are preparing to issue tokens next month, with the largest unlocks belonging to Celestia (TIA), Sui (SUI), and Aptos (APT). According to data from Token Unlocks, the total value of tokens distributed to ecosystem participants is estimated at $1.3 billion.
64.19 million SUI tokens
Sui will kick off October with an unlock of 64.19 million SUI tokens on October 1, which is approximately $108 million at the time of writing. This represents 2.4% of the total circulating supply and will be distributed to Series A and B investors, early contributors, the Mysten Labs treasury, and the community reserve.
Data from CoinGecko shows that the price of the SUI token increased by nearly 10% in the week leading up to the unlock event. Over the past 30 days, the price of SUI has increased by 125%, thanks in part to the launch of the Grayscale Sui Trust and Circle's upcoming USDC integration.
11.3 million APT tokens
Aptos plans to issue 11.3 million APT tokens, representing approximately 2.2% of the total circulating supply, on October 11. These tokens, currently worth approximately $91.27 million, will be distributed to the reserve fund, community, core contributors, and investors.
In contrast to SUI, the APT token has seen volatility ahead of the unlock. The price peaked at $8.5 over the weekend amid a bullish crypto market, but has since dropped below $8 at press time. APT is currently trading around $7.9, down 1% over the past 24 hours.
175.56 million TIA tokens
Celestia (TIA) will see its largest unlock on October 30, with 175.56 million TIA tokens released into the market, representing approximately 82% of the total circulating supply. These tokens will be distributed to series A and B investors, seed investors, and early core contributors.
Prior to this massive unlock, Celestia successfully raised $100 million in a funding round led by Bain Capital Crypto, with participation from multiple venture capital funds such as Syncracy Capital, 1kx, Robot Ventures, and Placeholder.
The latest funding brings Celestia’s total raised capital to $155 million. Following the announcement, TIA’s price rose 14% to $6.7, before falling slightly to $6 over the past 24 hours.
In addition to the large unlocks from Celestia, Sui, and Aptos, the crypto market will also face smaller unlocks from Immutable and Arbitrum. The total amount of tokens released into the market this month, expected to exceed $3 billion, could impact the overall market trend, Token Unlocks warned.
“October is coming – Stay informed and avoid getting caught up in FOMO. With $3.46 billion worth of tokens to unlock this month, it’s important to keep a close eye on market developments,” the Token Unlocks team advises.
