Important Token Unlocks in October: Which Projects to Watch
Date: 2023-10-02 Author: Dima Zakharov Categories: CRYPTO PAYMENTS, BUSINESS
October - Month of Token Unlocks
October promises to be an exciting month for the cryptocurrency market as several significant projects are preparing to unlock their tokens. Token unlocking is an event where previously frozen assets become available for trading and transfer. These events can have a significant impact on token prices and attract the attention of investors and traders.
Sui (SUI) and High-Performance Blockchain
The first important token unlock is scheduled for October 3 for the Sui project. Sui is a high-performance Layer 1 blockchain that operates on the Proof-of-Stake consensus algorithm. The project was founded by the Mysten Labs team, which secured substantial funding from investors, including Binance Labs, Franklin Templeton, and a16z Crypto. The SUI token unlock could draw attention to this innovative blockchain and influence its price.
dYdX (DYDX) and Decentralized Derivatives
Also on October 3, a token unlock is planned for dYdX, the largest decentralized protocol for derivatives trading. This project made changes to its tokenomics, distributing tokens among various categories of participants. This unlock may generate interest in DYDX among traders and investors.
ImmutableX (IMX) and NFT Scaling
On October 7, a token unlock is expected for ImmutableX, a Layer 2 solution for scaling NFTs on the Ethereum blockchain. This project has successfully attracted significant funding from major investors and continues to evolve. The IMX token unlock could be a significant event for this popular cryptocurrency market segment.
Aptos (APT) and Project Tokenomics
On October 12, the next token unlock is scheduled for Aptos, a Layer 1 blockchain. The Aptos project has generated both interest and criticism in the community due to its tokenomics, and the unlock may become a moment for attention to this discussion. Tokens will be unlocked over the next ten years.
Axie Infinity (AXS) and Play-to-Earn
While the Axie Infinity token unlock occurred on September 9, this event remains relevant for crypto gamers and investors. Axie Infinity is one of the most popular Play-to-Earn projects, where players can earn by playing the game. The AXS token unlock could impact the prices and dynamics of this project.
