Will October’s Token Unlocks Boost Celestia and Other Major Projects?

Nearly $2 billion worth of tokens from major projects led by Celestia will be put into circulation in October, with the network unlocking 175.75 million TIAs worth $1.13 billion on Oct. 31.

The tokens will be distributed to core contributors, R&D and investors.

Celestia, a modular data availability network, aims to simplify the blockchain startup. Its token price reached an all-time high of $20.85 in February 2023, but has since fallen to $6.4 as of Sept. 27.

Other major unlocks in October include Cheelee, which will launch $300 million worth of tokens on October 10, followed by Aptos with $90 million on October 12.

Other projects such as Arbitrum, Axie Infinity, ImmutableX and Internet Computer, are also contributing to more token unlocks worth nearly $600 million.