October is gaining importance as several notable projects, including Axie Infinity, Optimism, and Aptos, are preparing for major token launches.
The trio will collectively release over $130 million into the market, with Axie Infinity seeing the largest increase in the circulating supply of its AXS token at 11.5%.
Axie Infinity AXS Token Unlock
Axie Infinity, a blockchain-based nft game, leads the token unlocks this month. According to TokenUnlocks dataThe project will release 15.1 million AXS tokens on October 20, representing 11.5% of its circulating supply, worth approximately $71.8 million.
The distribution of these tokens will primarily benefit the project team, receiving $28.9 million, followed by $16.3 million allocated to staking rewards, $16 million for play-to-win incentives, $8 million allocated to an ecosystem fund and $2.6 million for advisors.
This launch comes after a previous unlock in July, which saw 3.4 million AXS tokens valued at $16.3 million enter the market. According to data from CoinGecko, the AXS price suffered a drop of almost 10% after the unlock.
Optimism and Aptos join the wave of token unlocking
Optimism will also see a token unlocked this month. On October 30, 24.2 million OP tokens will be launched, equivalent to 3% of its circulating supply, with a total value of $35.3 million. Of this amount, $18.6 million will be allocated to core contributors and $16.7 million to investors.
The OP token has shown resilience after previous unlocks. Following the unlock on September 30, the price of the token saw an 8% increase, reaching $1.45. This defied the trend of a 12% decline seen after its unlocking in August. The token’s positive performance is due to Optimism’s recent successful private token sale, which raised $162 million, and an upcoming $26 million airdrop.
Aptos will launch 4.5 million APT tokens on October 12, equivalent to 1.91% of its circulating supply and valued at approximately $26 million. The community will receive the majority of these tokens, with $18.4 million allocated, while $7.6 million will go to the Aptos Foundation.
Aptos has seen significant growth since its token was unlocked in September, with the APT token price rising over 7% in just one week. at the moment trade winds at $5.66. Recent developments include the integration of decentralized exchange Sushi, the addition of Coinbase Pay to the Petra crypto wallet, and the launch of a $1 million fund to support Aptos DeFi protocols.
Additionally, Aptos Labs has partnered with Universal Pictures to offer a web3 experience for fans of “The Exorcist: Believer.”
Tokens from other major companies will also be launched in October, including ApeCoin ($19.7 million), Sui ($17.2 million), ImmutableX ($11 million), and dYdX ($4.5 million). In November, Avalanche is preparing for the token unlock. Approximately $93.5 million worth of AVAX tokens will be launched on November 24, equivalent to 2.7% of the circulating supply.
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