Find the Top 5 Token Openings of October 2024

The crypto market is gearing up for its biggest token launch event in 2024, with more than $3 billion worth of tokens set to be released in October.

BeInCrypto has highlighted three major openings that will introduce significant asset inflows to the market.

October Token opens: what to expect

According to data from TokenUnlocks, nearly $1.6 billion of this month's token unlocks were allocated to cliff unlocks. In the context of Token Open events, a cliff refers to tokens that are released on a schedule that is more periodic than daily, such as weekly, monthly, or yearly.

As Open Token introduces previously unavailable tokens into circulation, investors and traders will closely monitor these events as they affect the market environment. While some see these events as opportunities for growth, they also carry the risk of increasing selling pressure.

“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 wrote.

This month's most notable cliff token openings include Celestia (TIA), Sui (SUI), Immutable (IMX), Aptos (APT), and Arbitrum (ARB).

SUI

On October 1st, Sui will unlock 64.19 million tokens. These tokens, worth about $106 million, account for 2.40% of the circulating supply. The distribution of these symptoms will be as follows.

Series A: 19.84 million SUI ($32.93 million) Series B: 19.32 million SUI ($32.07 million) Early Contributors: 10.34 million ($17.16 million) Mysten Labs Treasury: 2.07 million SUI ($3.44 million) Community Reserve: $12.63 million ($20.9 million SUI)

Read more: Everything you need to know about Sui Blockchain

Immutable (IMX)

Next to it, Immutable will release 32.47 million IMX tokens on October 4th. These tokens are worth approximately $59.10 million, translating to 2.02% of IMX's distribution offering. They will be distributed for ecology and project developments, with the details as follows.

Ecosystem Development: 15.91 million IMX ($28.96 million) Project Development: 16.56 million IMX ($30.14 million)

Aptos (APT)

The launch of Aptos on October 11 will see 11.31 million APT tokens enter the market. This figure is equivalent to 2.25% of APT's total supply, with a total value of $96.25 million.

The distribution of these symptoms will be as follows.

Foundation: 1.33 million APT ($11.35 million) Community: 3.21 million APT ($27.32 million) Major contributors: 3.96 million APT ($33.69 million) Investors: 2.81 million APT ($23.90 million)

Read more: Where to buy Aptos (APT): 5 best platforms for 2024

Arbitration (ARB)

On October 16, Arbitrum will release 92.65 million ARB tokens worth $61.90 million. This significant opening represents 2.56% of ARB's distribution offering. The distribution of these symptoms will be as follows.

Team, Future Team and Advisors: 56.13 million ARB ($37.50 million) Investors: 36.52 million ARB ($24.40 million)

Celestia (TIA)

Finally, on October 30, Celestia will unlock 175.56 million TIA tokens worth $1.12 billion. These symbols are classified as early supporters and first major contributors. The distribution of this token's opening allocation will be as follows:

Early Backers Series A&B: 65.01 million TIA ($414.76 million) Early Backers Seed: 52.47 million TIA ($334.76 million) First Core Contributors: 58.08 million TIA ($370.55 million)

Aside from these major launches, the market will also see cliff token launches from other popular projects including Starknet (STRK), ZetaChain (ZETA) and ApeCoin (APE) in October.