Crypto market braces for $3.46 billion unlocks next month amid potential Uptober FOMO

• Token Unlocks data reveals a massive $3.46 billion supply injection awaiting the crypto market in October.
• Celestia will add $1.12 billion worth of new supply, marking the largest release of the month.
• Solana and Worldcoin will also release $360 million and $336 million worth of locked tokens, respectively.

The crypto market is set for a busy month of October, as Token Unlock data points to an upcoming injection of $3.46 billion into various projects, including Celestia (TIA), Solana (SOL), and Worldcoin (WLD).

SUI Leads Crypto Unlocks For Next Week October To Witness Addition Of $3.46 Billion

Several tokens will see an increase in their circulating supply next week as the crypto market prepares for bigger unlocks in October.

Tokens set to unlock the rock next week include Sui (SUI), Optimism (OP), Zeta Chain (ZETA), dYdX (DYDX), Immutable (IMX), Maverick Protocol (MAV), Cardano (ADA) and Athena (ENA).

The crypto market will see $313.44 million in unlocks next week, led by SUI, which will add $106 million worth of its tokens into circulation. SUI’s unlock volume is followed by OP and IMX, each adding nearly $60 million worth of new supply by unlocking their respective tokens.

Meanwhile, the broader crypto market expects large unlocks of over $3.46 billion in the first month of Q4.

TIA will distribute the largest volume of tokens, totaling $1.12 billion, to add to the current supply in circulation. Celestia on Monday secured $100 million in capital in a funding round anchored by investment firm Bain Capital. Investors in the round include 1kx, Robot Ventures and Syncracy Capital. The funding round brought Celestia’s total capital to $155 million.

Other tokens slated for a massive supply addition in October include Solana and Worldcoin, which will unlock $360 million and $336 million of their tokens respectively.

During unblocking, crypto assets with high unblocking activity tend to experience a brief price correction when new supply exceeds demand.

Heavy releases in October could spark a bit of FUD among investors looking to capitalize on the potential high market FOMO in October. The crypto market often starts an uptrend in the fourth quarter, starting in October, before moving on in other months.