Celestia, Sui and Aptos are set for a $1.3 billion launch next month.
Key receivers
October 2024 marks one of the biggest token launches this year. Key unlocks include Celestia, Sue, and Aptos.
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Several crypto projects are slated for token releases next month, with Celestia (TIA), Sui (SUI) and Aptos (APT) experiencing the biggest launches. According to data from Token Unlocks, these projects will distribute around $1.3 billion to ecosystem participants.
64.19 million SUI marks
Sui starts the month with 64.19 million Sui tokens opened on October 1st, which is around $108 million at the time of reporting. These tokens, representing 2.4% of the distribution offering, will be allocated to Series A and Series B investors, early contributors, Mystone Labs treasury and community stock.
According to CoinGecko data, the Sui token rose about 8% in the week leading up to the October token launch. In the last 30 days, SUI has recorded a 110% increase, which may be due to the upcoming USDC merger of Grayscale Sui Trust and Circle.
11.3 million APT tokens
Aptos is set to release 11.3 million APT tokens, which is 2.2% of its circulating supply on October 11.
Unlike SUI, the APT token faced volatility before the token launch. The price peaked at $8.50 over the weekend amid a major crypto market rally, but fell below $8 at press time. It is currently at $7.9 on CoinGecko, down 1% in the last 24 hours.
175.56 million TIA tokens
Celestia will hit the market on October 30th with 175.56 million TIA tokens. These tokens account for approximately 82% of the distribution offering, Series A and B, seed investors, and initial principal contributors.
Ahead of the massive token release, Celestia successfully raised $100 million in a funding round led by Bain Capital Crypto, with participation from various venture capital firms such as Syncracy Capital, 1kx, Robot Ventures and PlaceLeatherland.
The latest round of funding brings Celestia's total to $155 million. Following the announcement, TIA's share price rose 14 percent to $6.7. At the time of writing, the token has settled as low as $6 in the last 24 hours.
Outside of those major tokens, the crypto market faces smaller ones like Immutable and Arbitrum, among others. The Token Unlocks team warns that the total influx of tokens into the market, which is expected to exceed $3 billion, could affect market volatility.
“Aptober is just around the corner – get informed, not driven by FOMO. With a projected $3.46B in token unlocks per month, it is important to monitor the market closely,” the Token Unlocks team stated.
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