Originally published on: September 27, 2024
In a major release of tokens scheduled for October, cryptocurrency investors are gearing up for the unlocking of almost $2 billion worth of tokens from various projects. Leading the way is Celestia, with the imminent release of 175.75 million TIA tokens, valued at a staggering $1.1 billion based on current market prices.
Celestia, a cutting-edge modular data availability network, has captured the attention of the crypto community with its aim to revolutionize blockchain deployment for developers. The project saw a surge in popularity in 2023, driving the price of TIA tokens to an all-time high of $20.85 before experiencing a gradual decline. Currently priced at $6.51, the upcoming token release is expected to shake up the market once again.
Another project set to make waves in the crypto world this month is Cheelee, a Web3 social network that rewards users for watching videos. Scheduled to unlock $300 million in vested crypto tokens on October 10th, Cheelee’s token release will be allocated to a diverse range of recipients, including advisers, reserve fund, marketing, liquidity, team, community airdrop, and private round investors.
While Celestia and Cheelee account for a significant portion of October’s token unlocks, several other projects are also gearing up to release tokens into the market. Aptos, Arbitrum, Axie Infinity, ImmutableX, GateToken (GT), Starknet, Internet Computer, and Ethena Labs are among the notable projects poised to unlock nearly $600 million in crypto tokens.
Aptos is scheduled to release $90 million in APT tokens on October 12th, while projects like Arbitrum, Axie Infinity, ImmutableX, and GateToken are expected to unlock between $50 million to $70 million worth of tokens. Starknet, Internet Computer, and Ethena Labs are also in line to release tokens ranging from $20 to $30 million.
With the crypto market abuzz with anticipation for the upcoming unlocks, investors and enthusiasts alike are eager to see how these releases will impact the industry. Stay tuned as October shapes up to be a pivotal month for the world of cryptocurrency.
