October Set for Major Crypto Token Unlocks

October is poised to witness nearly $2 billion worth of crypto tokens released into the market, with Celestia leading the way. On October 31, Celestia will unlock $1.1 billion worth of its $TIA tokens, which will be distributed to core contributors, investors, and developers. The $TIA token, which once peaked at $20.85 in February 2024, has seen its value drop to $6.51. This significant unlock is expected to influence its market price, making it a critical event for traders and investors.

Additionally, on October 10, Cheelee, a Web3 social network, will release $300 million worth of tokens. Together, the Celestia and Cheelee unlocks represent 70% of October's crypto token releases. Other notable projects, such as Aptos, Arbitrum, and Axie Infinity, will also release tokens, bringing the total unlock value to $2 billion. These releases are likely to impact token prices and liquidity, making October an important month for the crypto market.