Crypto.news - This month, about $200 million in crypto will be released into the market.
At least six large projects account for over 80% of the total, or $174 million, as reported by TokenUnlocks. This considerable surge could create a substantial shift in the market dynamics of these assets.
The so-called “token unlocks” process involves the distribution of previously restricted assets into the cryptocurrency landscape.
Leading the pack, Axie Infinity (AXS) aims to release a staggering 15.13 million tokens—about 11.5% of its circulating supply — roughly worth $71.2 million.
Another significant player, Optimism (OP) — an Ethereum (ETH) layer2 network — is set to unlock tokens worth $33.58 million on the last day of October.
The upcoming unlock could result in a liquidity surge or a sell-off, significantly influenced by the prevailing investor sentiment. The same applies to tokens like Optimism, currently priced at $1.36, which has remained relatively stable but could face new market pressure due to the upcoming unlock.
Meanwhile, ApeCoin (APE) will use its unlocked tokens to strengthen its treasury, planning to add approximately $19.3 million from the tokens to be unlocked this month.
Immutable X (IMX) tokens worth an estimated $10.71 million are scheduled for release on Oct. 7. This unlock could act as a lever for price movement, either raising due to increased trading activity or falling if investors decide to cash out.
The Sui (SUI) blockchain will also unlock over 34 million of its native tokens with a value of $16.21 million. On its part, Aptos (APT) will release 4.54 million tokens worth $24.94 million, representing just under 2% of its circulating supply.