Around 30 cryptocurrency projects will release over $200 million worth of tokens into circulation in October, according to Token Unlocks data. However, six projects will contribute nearly 80% of this release as they plan to unlock more than $174 million worth of tokens during this period. 

Token unlocks involve releasing assets previously restricted from circulation to the cryptocurrency market. Research by The Cambridge Centre for Alternative Finance (CCAF) showed that unlocking significantly influences overall market dynamics as it often exerts more selling pressure on the digital asset.

Top 6 Scheduled Unlock For October

Axie Infinity leads by releasing 15.13 million AXS tokens, equivalent to 11.5% of its circulating supply. This substantial release amounts to $71.39 million at the time of writing and would be majorly used to develop its ecosystem further and fund its team.

Optimism, an Ethereum layer2 network, will
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Author: Oluwapelumi Adejumo

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