Six major projects to open this October with a token value of $174M

According to Token Unlocks data, about 30 cryptocurrency projects will release tokens worth more than $200 million into circulation in October. However, six projects will contribute 80% of this rollout, planning to unlock more than $174 million worth of tokens during this period.

Token unlocks involve the release of assets that were previously restricted from being transferred to the cryptocurrency market. A study by the Cambridge Center for Alternative Finance (CCAF) found that opening would have a greater impact on overall market volatility as it would put more selling pressure on the digital asset.

The grand opening is scheduled for October 6

Axie Infinity leads by releasing 15.13 million XS tokens, which is equivalent to 11.5% of its circulating supply. This massive release stands at $71.39 million at the time of writing and will mainly be used to grow the ecosystem and support the team.

Optimistic view, Ethereum layer2 network unlocks $33.58 million worth of tokens. These tokens, totaling 12.75 million for core contributors ($17.72 million) and 11.41 million for investors ($15.86 million), represent 3.03% of the circulating supply and will be available on the last day of the month.

Aptos plans to reward the foundation and community with $25.13 million in 4.45 million APT tokens. This release carries a 1.91% float and is scheduled for October 12.

SUI will allocate the entire 34.62 million tokens worth $16.21 million to the community outreach program. This opening is scheduled for October 3rd.

Meanwhile, Apecoin will use its unlocked tokens to further strengthen its treasury. The project plans to add $9.18 million to its coffers from its token launch this month. The proposed move follows a series of similar increases in recent months.

On October 7th, 18.08 million IMX tokens are set to be released from their lock. This represents approximately 1.55% of IMX's current distribution offering, valued at $10.71 million.