Axie Infinity, Optimism and Aptos will launch over $130 million in tokens in October. As the countdown begins for the lock opening, it will be clear in the coming weeks whether the market will receive positive effects from these openings.
critical month
October has become a critical month for the cryptocurrency market as several prominent projects, including Axie Infinity, Optimism, and Aptos, are preparing for major token releases.
It was noted that Axie Infinity will launch more than $130 million into the market along with OP and APT tokens, with the AXS token having the largest increase in the circulating supply of the AXS token at 11.5 percent.
Axie Infinity (AXS) token unlocking
Axie Infinity, a blockchain-based NFT game, was the leader in token unlocks this month. According to TokenUnlocks data, the project will launch 15.1 million AXS tokens on October 20, representing 11.5 percent of its circulating supply, worth approximately $71.8 million.
The distribution of these tokens will primarily benefit the project team, and the team will receive $28.9 million, followed by $16.3 million for staking rewards, $16 million for play-to-win incentives, $8 million for the ecosystem fund, and $2.6 million for advisors.
This release follows the previous unlock in July, when 3.4 million AXS tokens worth $16.3 million entered the market.
Aptos (APT) token unlocking
Aptos will launch 4.5 million APT tokens on October 12, representing 1.91 percent of its circulating supply and worth approximately $26 million. The community will receive the majority of these tokens, with $18.4 million allocated, while $7.6 million will go to the Aptos Foundation.
Aptos has seen significant growth since the token unlocked in September, with the price of the APT token increasing by over 7 percent in just one week.
Additionally, Aptos Labs has partnered with Universal Pictures to deliver a Web3 fan experience for “The Exorcist: Believer.”
Tokens from other major startups such as ApeCoin ($19.7 million), Sui ($17.2 million), ImmutableX ($11 million) and dYdX ($4.5 million) will also be launched in October. In November, Avalanche will unlock a token. Approximately $93.5 million worth of AVAX tokens, equivalent to 2.7 percent of the circulating supply, will be launched on November 24.
Optimism and Aptos are also in the token unlock wave
It was stated that Optimism will also unlock a token this month. On October 30, 24.2 million OP tokens will be released, with a total value of $35.3 million, representing 3 percent of the circulating supply. Of this amount, $18.6 million will be allocated to core participants and $16.7 million to investors.
The OP token has shown resilience following previous unlocks. After the unlock on September 30, the token price increased by 8 percent, reaching $1.45. This defied the 12 percent downward trend observed after the unlocking in August. The token’s positive performance was noted to be due to Optimism’s recent successful private token sale, which raised $162 million, and the upcoming $26 million airdrop.
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