In October 2023, many cryptocurrency projects are planning a token unlock, i.e. a release of previously locked tokens that are thus added to the total quantity in circulation. Inevitably, this is a phenomenon that can impact the price of the cryptocurrency concerned. Here are the top 5 unlocked tokens to watch out for in October 2023.
Less important unlock tokens
We often talk about it in TCN columns, the unlock token mechanism is quite common in the cryptocurrency ecosystem. When a token is issued, it is customary to lock a portion of it – often intended for private investors, the community or the team – and release them in waves.
These events can have a significant impact on the markets, as historical data over the last few months has shown. While this is not a generality, it is important for investors to keep an eye on. Here are the 5 cryptocurrencies affected by the October 2023 unlock tokens.
StepN (GMT)
- Quantity: 87 million GMT
- Value: $13.9 million
- Percentage of capitalization: 7.36%
Fifth in today’s ranking is StepN (GMT), which plans to release 87 million GMT tokens at 6:00 a.m. (GMT+2) on October 9.
For your information, this represents $13.9 million, or 7.36% of the current capitalization of this move-to-earn project, which has seen an exceptional surge in popularity over the course of 2021.
Aptos (APT)
- Quantity: 4.5 million APTs
- Value: $25 million
- Percentage of capitalization: 1.9%
The Aptos Project (APT), a layer 1 blockchain solution, plans to release 4.5 million APT tokens, or $25 million. This event will take place on October 12 at 2:00 am (GMT+2).
For your information, this release is equivalent to 1.9% of APT’s total capitalization. At the time of writing, 77.5% of all APT tokens are still locked.
GateToken (GT)
- Quantity: 6.67 million GT
- Value: $25 million
- Percentage of capitalization: 6.9%
On the third step of today’s podium, we find GateToken (GT). Cryptocurrency exchange Gate.io plans to release 6.67 million GT tokens on October 26 at 2am (GMT+2).
This represents $25 million, or 6.9% of its current capitalization, which is quite significant. Note that only 32% of all GT tokens are currently in circulation.
Uniswap (UNI)
- Quantity: 8.33 million UNI
- Value: $36 million
- Percentage of capitalization: 1.44%
In second place is Uniswap’s UNI. One of the largest decentralized finance protocols (DeFi) plans to release 8.33 million UNI tokens onto the market.
This event will take place on October 16 at 6 a.m. (GMT+2). Although this represents only 1.44%, or $36 million, of the current capitalization, this event is not to be overlooked.
Axie Infinity (AXS)
- Quantity: 15.12 million AXS
- Value: $68 million
- Percentage of capitalization: 10.7%
Finally, the top position in today’s ranking is occupied by Axie Infinity (AXS). The very popular blockchain game plans to release 15.12 million AXS tokens, as of 2 a.m. (GMT+2) on October 20.
This represents $68 million, or 10.7% of the current capitalization of the AXS cryptocurrency. This event is likely to have a considerable impact on the asset’s price, so keep an eye on it.
