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October 2024 will bring in quite a lot of token unlocks, with approximately $3.46 billion worth of cryptocurrencies scheduled for release, according to Token Unlocks data.
Several key tokens, including TIA, WLD, and SOL, will experience the effects of it, the most. TIA leads the unlock event with $1.12 billion worth of tokens set to be released. SOL ranks second with $360.80 million worth of tokens set to unlock, while WLD follows closely with $336.31 million.
📈 Uptober is just around the corner – Stay Informed, Not FOMO-Driven
— Token Unlocks (@Token_Unlocks) September 27, 2024
With $3.46B in token unlocks scheduled for the month, it’s essential to keep a close eye on the market. Key Unlocks include:
• $TIA: $1.12B
• $WLD: $336.31M
• $SOL: $360.80M
• Other tokens: $1.65B… pic.twitter.com/221NeN5MvR
Read also: Weekly Token Unlocks: $113M Set to Enter the Market, ARB, ID Lead the Pack
Also, tokens not listed individually are projected to release $1.65 billion in value. The large-scale unlocking of TIA, in particular, is expected to dominate October’s supply influx. This influx of tokens may lead to increased volatility as market participants adjust their strategies in response to changing supply conditions.
$568 Million in Crypto Assets to be Released
Over $568 million worth of assets are scheduled to be released into circulation between September 30 and October 6. This event includes prominent projects such as Solana (SOL), SUI, Worldcoin (WLD), Immutable (IMX), and ZetaChain (ZETA).
Read also: Over $568 Million in Crypto Token Unlocks Set to Impact Market
SUI leads the token unlock leaderboard within this period, with more than $108 million worth of tokens entering the market. This figure is followed by Solana (SOL) unlocking $75.90 million and Worldcoin (WLD) releasing $58.07 million. Analysts predict increased volatility due to these high-value token releases.
In addition, Immutable (IMX) and ZetaChain (ZETA) will unlock $54.88 million and $34.78 million worth of tokens, respectively. These assets will be allocated to various stakeholders, including investors, founders, project teams, foundation reserves, and community members.
With such large releases coming, October is shaping up to be a busy month for market activity. For investors, staying updated on these developments is crucial for making informed decisions.
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