October is shaping up to be a massive month for crypto, with nearly $2 billion in tokens set to be unlocked across various projects.
The bulk of these tokens—around $1.1 billion—belongs to Celestia, a modular blockchain platform that’s rapidly gaining attention.
According to DropsTab, a crypto vesting tracker, 175.75 million Celestia (TIA) tokens will be unlocked on October 31. These tokens are allocated to early contributors, research and development, Series A and B investors, and seed round backers.
Celestia aims to make launching blockchains as easy as deploying smart contracts, a bold vision that skyrocketed TIA’s value in late 2023. TIA tokens hit an all-time high of $20.85 on February 10, but since then, prices have slipped, now standing at $6.51.
Cheelee, a Web3 social network that rewards users for watching videos, is also poised for a big token unlock on October 10. $300 million worth of CHEEL tokens are scheduled for release, allocated to advisers, liquidity, marketing, and other stakeholders.
After suspending withdrawals for a brief update in September, Cheelee’s token price fell from $16 to $12, further adding intrigue to its upcoming unlock.
Together, TIA and CHEEL account for 70% of all token unlocks in October. Other major projects joining the frenzy include Aptos, Arbitrum, Axie Infinity, and ImmutableX.
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Aptos (APT) will unlock $90 million in tokens on October 12, with Arbitrum, Axie Infinity, and ImmutableX set to release between $50 million and $70 million each. Lesser-known players like Starknet, Internet Computer, and Ethena Labs will collectively unleash almost $600 million in tokens into the market.
Buckle up—October’s token surge is likely to shake things up across the crypto world, with a flood of liquidity hitting the market.
