Crypto News– Investors are advised to closely monitor specific cryptocurrency tokens with upcoming major token unlock events, as highlighted by Marti, a prominent host from the Altcoin Buzz YouTube channel.
Top 5 Crypto Tokens Set to Unlock in October 2023
Marti has identified several of these crypto tokens and provided insights into the details of their upcoming unlock programs.
Axie Infinity (AXS)
Marti pointed out the first token of interest, Axie Infinity (AXS). He highlighted that in October, Axie Infinity is scheduled to unlock 11.5% of its circulating supply, with the unlock event set for October 20. This translates to approximately 15.13 million AXS tokens, valued at approximately $68.28 million at the time of Marti’s presentation.
Marti elaborated on Axie Infinity’s unlocking schedule, which includes quarterly unlocks, consisting of two significant and two minor events, with the smaller unlocks primarily related to staking rewards. He also noted that Axie Infinity has already completed 70% of its AXS token unlocks, which he sees as a positive development for the project’s community.
However, Marti emphasized the potential impact of token unlocks on the value of cryptocurrency tokens. He pointed out that leading up to Axie Infinity’s previous significant unlock event in April, the token’s price experienced a notable decline. Thus, he recommended that users remain vigilant and take precautionary measures in anticipation of the upcoming unlock event.
Optimism (OP)
Optimism (OP) is gearing up for its monthly token unlock, equivalent to 3.03% of the total token supply. This event is scheduled for October 30 and will introduce 24.16 million new OP tokens into the project’s ecosystem. As of now, the value of these tokens stands at $32.86 million. It’s worth noting that Optimism has only unlocked 18% of its total supply to date, with the final OP token unlocks anticipated in May 2027. Marti also pointed out a recent decline in the OP price since August, heading into the token unlock season.
Aptos (APT)
Aptos (APT) has an unlock event slated for October 12, which will release 1.91% of its circulating supply, equivalent to 4.54 million APT tokens, valued at $24.53 million. Marti identified this as the third-largest unlock event scheduled for October 2023. The Altcoin Buzz host anticipates APT to experience some downward pressure in the coming months, given a series of unlock events lined up during that period.
ApeCoin (APE)
ApeCoin (APE) is actively engaged in unlock events, with another one scheduled for October following a recent unlock in September. Marti noted that the upcoming October unlock is relatively smaller, accounting for 4.23% of the project’s circulating supply. This event will involve the release of 16.3 million APE tokens, equivalent to $17.3 million.
ImmutableX (IMX)
ImmutableX (IMX) is the fifth-largest unlock event in terms of US Dollars scheduled for October, as highlighted by Marti. The unlock event is set to take place on October 7, with 1.95% of IMX’s circulating supply being added to the project’s network. This monthly allocation comprises 18.08 million IMX tokens, amounting to approximately $10.37 million.
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