As they get ready for substantial token launches, several big projects, like Axie Infinity, Optimism, and Aptos, are shaping up to be huge in October. Over $130 million will be released into the market as a result of the three projects combined, with Axie Infinity seeing the most rise in the AXS token’s circulating supply at 11.5%.
This month’s top token unlocks are being led by the blockchain-based NFT game Axie Infinity. On October 20, the project will release 15.1 million AXS tokens, or 11.5% of its current circulating supply, worth at about $71.8 million, according to data from TokenUnlocks.
The project’s team will get $28.9 million from the distribution of these tokens, followed by payments of $16.3 million for staking rewards, $16 million for play-to-earn incentives, $8 million for an ecosystem fund, and $2.6 million for advisers.
This month, optimism will also enable token unlocking. On October 30, a total of 24.2 million OP tokens worth $35.3 million, or 3% of the circulating supply, will be distributed. Of this sum, $16.7 million will go to investors, while $18.6 million will be given to essential contributors.
On October 12, Aptos will issue 4.5 million APT tokens, or 1.91% of its current supply and worth about $26 million. The majority of these tokens—$18.4 million—will go to the community, with $7.6 million going to the Aptos Foundation.
ApeCoin ($19.7 million), Sui ($17.2 million), ImmutableX ($11 million), and dYdX ($4.5 million) are notable companies that also released coins in October. Avax tokens worth $93.5 million, or 2.7% of the circulating supply, will be issued on November 24 as part of Avalanche’s preparations for a token unlock in November.