Check out the top 5 token unlocks of September 2024

In September, the cryptocurrency market is set to see significant activity as around $1.73 billion worth of tokens are expected to be unlocked.

BeInCrypto has highlighted the top five unlocks that will introduce a substantial influx of assets into the market.

September Token Unlocks: What to Expect in the Cryptocurrency Market

TokenUnlocks data indicates that approximately $418.53 million of this month’s token releases are classified as cliff releases. In the context of token release events, the term cliff refers to tokens that are scheduled to be released on a more periodic schedule than daily, such as weekly, monthly, or annually.

Since token unlocks introduce previously unavailable tokens into circulation, investors and traders closely monitor these events as they affect the market environment. While some view these events as growth opportunities, they also carry the risk of increased selling pressure. TokenUnlocks analysts caution that the idea that “unlocks are bullish” is not always accurate.

“It is critical to recognize that absorbing such a large supply will require substantial liquidity. The broader market will need to step in to absorb this influx, which could lead to increased selling pressure as these tokens seek liquidity,” they wrote.

The most significant cliff tokens unlocked this month include Sui (SUI), Immutable (IMX), Aptos (APT), Arbitrum (ARB), and Optimism (OP).

Follow (SUI)

On September 1, Sui will unlock 64.19 million tokens. These tokens, worth approximately $51.6 million, represent 2.47% of its circulating supply. The distribution of these tokens will be as follows:

• Series A: SUI 19.84 million (USD 15.95 million)
• Series B: 19.32 million SUI (15.53 million)
• Top contributors: $10.34 million ($8.31 million)
• Mysten Labs Cash: SUI 2.07 million (USD 1.66 million)
• Community reserve: 12.63 million SUI (10.15 million USD)

Learn more: Everything you need to know about the Sui blockchain

Immutable (IMX)

Following Sui, Immutable will launch 32.47 million IMX tokens on September 6. These tokens, worth approximately $47.41 million, represent 2.06% of IMX’s circulating supply. They will be distributed to the ecosystem and project developments, with the following details:

• Ecosystem Development: IMX 15.91 million (USD 23.24 million)
• Project development: IMX 16.56 million (USD 24.18 million)

Aptos (APT)

The Aptos release on September 11 will see 11.31 million APT tokens enter the market. This figure equates to 2.33% of the total APT supply, with a total value of $76.68 million.

The distribution of these tokens will be as follows:

• Foundation: 1.33 million APT (9.04 million USD)
• Community: 3.21 million APT ($21.76 million)
• Top Contributors: 3.96 million APT ($26.84 million)
• Investors: 2.81 million APT ($19.04 million)

Arbitration (ARB)

On September 16, Arbitrum will launch 92.65 million ARB tokens, worth $47.48 million. This significant release represents 2.65% of the circulating supply of ARB. The distribution of these tokens will be as follows:

• Team, future team and advisors: ARB 56.13 million (USD 23.77 million)
• Investors: ARB 36.52 million (USD 18.72 million)

Optimism (OP)

Finally, on September 30, Optimism will unlock 31.34 million OP tokens, worth $44.51 million. These tokens will be allocated to key contributors and investors, supporting the long-term sustainability of the project. The distribution of this token unlock allocation will be as follows:

• Top Contributors: OP 16.54 million (USD 23.49 million)
• Investors: 14.80 million OP (21.02 million USD)

Read more: Optimism vs. Arbitrage: Comparing Ethereum Layer 2 Rollups

Beyond these major unlocks, the market will also see Cliff token unlocks from other notable projects in September, including dYdX (DYDX), ZetaChain (ZETA), and ApeCoin (APE). Additionally, Xai (XAI), Stark (STRK), ApeCoin (APE), Pixels (PIXEL), and Yield Guild Games (YGG) are also making headlines.