October Token Releases: Axie Infinity, Optimism, and Aptos
In October, several notable projects are preparing for significant token releases, injecting over $130 million into the market. These projects include Axie Infinity, Optimism, and Aptos.
Axie Infinity’s AXS Token Unlock
Axie Infinity, a blockchain-based NFT game, leads the way with its token unlock. On October 20th, the project will release 15.1 million AXS tokens, accounting for 11.5% of its circulating supply. This amounts to a value of approximately $71.8 million.
The distribution of these tokens will primarily benefit the project’s team, staking rewards, play-to-earn incentives, ecosystem fund, and advisors.
This release follows a previous unlock in July, which resulted in a 10% drop in the price of AXS.
Optimism and Aptos Join the Wave
Optimism is also set to unlock tokens this month. On October 30th, 24.2 million OP tokens (3% of its circulating supply) will be released, worth $35.3 million. Core contributors and investors will receive allocations from this release.
Aptos will release 4.5 million APT tokens on October 12th (1.91% of its circulating supply), valued at around $26 million. The majority of these tokens will go to the community.
Positive Performance and Recent Developments
Despite previous unlocks affecting token prices negatively, Optimism’s OP token experienced an 8% increase after its September unlock due to successful private token sales and an upcoming airdrop.
Aptos has seen significant growth since its September unlocks, with the APT token’s price rising by over 7% in one week. Recent developments include partnerships with Sushi decentralized exchange and Universal Pictures.
Hot Take: October Unlocks Bring Excitement and Potential
The month of October brings a wave of token releases from projects like Axie Infinity, Optimism, and Aptos. These releases inject substantial amounts of value into the market and offer opportunities for investors and communities alike.
While previous unlocks have resulted in price fluctuations, the positive performance of Optimism’s OP token and Aptos’ APT token demonstrates their resilience and potential for growth.
As these projects continue to make strides in the blockchain space, it will be interesting to see how their tokens perform and how they contribute to the overall ecosystem.
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