October Crypto Unlocks Near $2B with $1.1B TIA Token Release

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Celestia Token Unlock 

Celestia is a modular data availability network that allows users to launch their own blockchains. It simplifies the process, much like deploying smart contracts. On October 31, the project will unlock 175.75 million TIA tokens. These tokens are worth $1.1 billion at the current market price. 

The tokens are allocated to: 

  • Research and development 
  • Series A and B investors 

The project gained popularity toward the end of 2023, driving the price of TIA tokens to an all-time high of $20.85 in February 2024. However, the token has since experienced a decline, currently trading at $6.51. 

Cheelee Token Unlock 

Cheelee, a Web3 social network, is another project with a significant token release in October. On October 10, $300 million worth of Cheelee (CHEEL) tokens will be unlocked. These tokens are allocated to: 

  • Private round investors 

Cheelee allows users to earn rewards for watching videos. However, it temporarily suspended withdrawals on September 20 in preparation for an update. Withdrawals resumed on September 24, but the price of CHEEL tokens fell from $16 to $12 shortly after the reopening. 

Other Major Token Unlocks 

In addition to Celestia and Cheelee, several other projects will release significant token amounts in October. These include: 

  • Aptos: $90 million (October 12) 
  • Axie Infinity: $50-$70 million 
  • ImmutableX: $50-$70 million 
  • GateToken: $50-$70 million 
  • Starknet: $20-$30 million 
  • Internet Computer: $20-$30 million 
  • Ethena Labs: $20-$30 million 

Token Unlock Summary for October 

Project 

Unlock Date 

Token Amount 

Value (Approx.) 

Celestia (TIA) 

Oct. 31 

175.75M 

$1.1B 

Cheelee (CHEEL) 

Oct. 10 

N/A 

$300M 

Aptos 

Oct. 12 

N/A 

$90M 

Arbitrum 

N/A 

N/A 

$50M – $70M 

Axie Infinity 

N/A 

N/A 

$50M – $70M 

ImmutableX 

N/A 

N/A 

$50M – $70M 

GateToken (GT) 

N/A 

N/A 

$50M – $70M 

Starknet 

N/A 

N/A 

$20M – $30M 

Internet Computer 

N/A 

N/A 

$20M – $30M 

Ethena Labs 

N/A 

N/A 

$20M – $30M 

 

This month’s unlocks are expected to impact the market, especially for projects like Celestia and Cheelee. It will be interesting to watch how token prices adjust as these unlocks take place.