AXS, OP and APT among over $200 million in October token unlocks

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By BitcoinWiki News

Key Takeaways:

– Axie Infinity to release 15.1 million AXS tokens on Oct. 20 (worth $71.8 million)
– Majority of tokens allocated to team ($28.9 million), staking rewards ($16.3 million), play to earn incentives ($16 million), ecosystem fund ($8 million), and advisors ($2.6 million)
– AXS price fell 10% after previous unlock in July, currently trading at $4.73
– Optimism to release 24.2 million OP tokens on Oct. 30 (worth $35.3 million)
– Aptos to release 4.5 million APT tokens on Oct. 12 (worth $26 million)
– Avalanche set for $93.4 million token unlock in November
– Other notable unlocks in October include ApeCoin, Sui, ImmutableX, and dYdX

In October, several crypto projects are set for significant token unlocks. Axie Infinity will release 15.1 million AXS tokens, representing 11.5% of its circulating supply and worth approximately $71.8 million. The majority of the unlocks will go to the project’s team, with allocations also for staking rewards, play to earn incentives, an ecosystem fund, and advisors.

Optimism, a Layer 2 solution for Ethereum, will release 24.2 million OP tokens, equivalent to 3% of its circulating supply and worth $35.3 million. Core contributors and investors will receive the majority of the unlocks. Optimism recently conducted a private sale of $162 million worth of OP tokens for treasury management purposes.

Aptos, a Layer 1 blockchain founded by ex-Meta executives, will release 4.5 million APT tokens, representing 1.91% of its circulating supply and worth around $26 million. The community and the Aptos Foundation will receive the unlocks. In September, Aptos saw the decentralized exchange Sushi expand to its platform and partnered with Universal Pictures for a web3 fan experience.

Other notable token unlocks in October include ApeCoin, Sui, ImmutableX, and dYdX. Looking ahead to November, Avalanche is set for a significant token unlock, with $93.5 million worth of AVAX tokens, representing 2.7% of its circulating supply, estimated to be released on November 24th.

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