Celestia, Sui and Aptos Prepare for $1.3B Token Unlock Next Month

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Numerous crypto projects are slated for token launches next month, with Celestia (TIA), Sui (SUI), and Aptos (APT) seeing the biggest unlocks. According to data from Token Unlocks, these projects will distribute approximately $1.3 billion to ecosystem participants.

64.19 million SUI tokens

Sui will start the month with 64.19 million SUI tokens unlocked on October 1st, equivalent to approximately $108 million at the time of reporting. These tokens, representing 2.4% of the circulating supply, will be allocated to Series A and Series B investors, early contributors, the Mysten Labs Treasury and community reserves.

The SUI token rose nearly 8% in the week leading up to the October token unlock, according to CoinGecko data. In the last 30 days, SUI has seen a 110% increase, likely driven by the release of the upcoming USDC integration of Grayscale Sui Trust and Circle.

11.3 million APT tokens

Aptos is set to issue 11.3 million APT tokens, representing approximately 2.2% of its circulating supply on October 11th. These tokens, worth approximately $91 million at current prices, will be distributed to the foundation, community, core contributors and investors.

Unlike SUI, the APT token experienced volatility before the token was unlocked. The price hit a high of $8.5 over the weekend amid a broader resurgence in the crypto market, but has fallen below $8 at the time of writing. It is currently trading at around $7.9, down 1% in the last 24 hours, on CoinGecko.

175.56 million TIA tokens

Celestia will experience its largest token unlock on October 30th, with 175.56 million TIA tokens hitting the market on October 30th. These tokens, representing approximately 82% of its circulating supply, will be awarded to early Series A and B backers, seed investors, and initial core contributors.

Prior to the token’s massive launch, Celestia successfully raised $100 million in a funding round led by Bain Capital Crypto, with participation from various venture capital firms such as Syncracy Capital, 1kx, Robot Ventures, and Placeholder.

The latest funding brings Celestia’s total raised to $155 million. Following the announcement, TIA’s price rose 14% to $6.7. At the time of writing, the token settled at around $6, slightly down over the past 24 hours.

Aside from those major token unlocks, the crypto market will also face smaller ones from Immutable and Arbitrum, among others. The total influx of tokens into the market, estimated to exceed $3 billion, could affect market dynamics, as warned by the Token Unlocks team.

“Uptober is just around the corner – Stay informed, not driven by FOMO. With $3.46 billion in token unlocks scheduled for the month, it is essential to keep a close eye on the market,” said the Token Unlocks team.

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