$1.1B Celestia Token Release to Boost October’s Crypto Unlocks to Nearly $2B
Celestia will unlock $1.1 billion worth of $TIA tokens on Oct. 31. Along with other token releases, October’s crypto unlocks will reach nearly $2 billion.
Key points:
- Celestia unlock: $1.1 billion in $TIA tokens will unlock on Oct. 31.
- Cheelee release: $300M in Cheelee tokens will be released on Oct. 10.
- Additional projects: $600M from projects like Aptos, Arbitrum, and Axie Infinity.
- TIA token performance: It peaked at $20.85 in February 2024, now valued at $6.51.
- Major influence: $TIA and Cheelee make up 70% of October’s total unlocks.
October’s Crypto Market Set for Major Token Unlocks
October will see nearly $2 billion worth of crypto tokens released into the market.
Celestia leads this wave with its $1.1 billion $TIA token unlock on October 31. These tokens will go to core contributors, investors, and developers.
Read more: Celestia Foundation Secures $100M in Funding Round Led by Bain Capital Crypto
Celestia’s goal is to make blockchain development simpler, similar to smart contract deployment.
Meanwhile, the $TIA token hit a peak of $20.85 in February 2024. Since then, its value has dropped to $6.51.
This large unlock could further affect its market price, making it a key event for traders.
On October 10, Cheelee, a Web3 social network, will release $300M in tokens. The Cheelee release and Celestia’s unlock together account for 70% of October’s crypto unlocks.
In addition to these projects, other unlocks worth $600M are coming from Aptos, Arbitrum, Axie Infinity, and more.
These significant releases are likely to impact token prices and liquidity, making October a crucial month for the crypto market.
