Published on september 29, 2024, 12:29 am
Image source: Fox News
```json { "TLDR": "Celestia tokens worth $1.1 billion to be unlocked on October 31st, alongside Cheelee tokens worth $300 million on October 10th. These releases, along with unlocks from various other projects like Aptos, Arbitrum, Axie Infinity, and more totaling approximately $900 million, show a surge in token accessibility for stakeholders and investors in the crypto market." } ```
Celestia tokens worth $1.1 billion are set to be unlocked on October 31st, alongside Cheelee tokens worth $300 million on October 10th. This reveals a significant surge in token releases from major projects during the month of October. The substantial release of 175.75 million Celestia tokens, valued at $1.1 billion based on current market prices, will play a pivotal role in this month’s unlock activities.
DropsTab, a crypto vesting tracker, highlights that the $1.1 billion worth of Celestia (TIA) tokens will become accessible on October 31st. These tokens are allocated to various stakeholders such as the project’s initial core contributors, research and development teams, Series A and B investors, as well as seed round investors. Celestia operates as a modular data availability network aimed at assisting users in launching their own blockchains seamlessly.
Notably, other projects like Cheelee are also making waves with the scheduled unlocking of $300 million vested crypto tokens on October 10th. These Cheelee (CHEEL) tokens are designated for advisers, reserve fund management, marketing efforts, liquidity provision, team incentives, community airdrop programs, and private round investors’ benefits.
In addition to TIA and CHEEL tokens dominating the unlocking scene for October by accounting for 70% of the total unlocks, various other prominent projects are gearing up for releasing approximately $600 million worth of crypto tokens into the market. Projects like Aptos (APT), Arbitrum (ARB), Axie Infinity (AXS), ImmutableX (IMX), GateToken (GT), Starknet (STRK), Internet Computer (ICP), and Ethena Labs (ENA) are poised for their respective unlocks ranging from $20 million to $90 million.
Aptos is projected to issue $90 million in APT tokens on October 12th distributed among the foundation, core contributors, investors, and community participants. Meanwhile, other projects like Arbitrum, Axie Infinity, ImmutableX, and GateToken are unveiling unlocks varying between approximately $50 million to $70 million each. Similarly ranging from $20 to $30 million each in releases are Starknet’s STRK token along with Internet Computer’s ICP and Ethena Labs’ ENA assets.
This influx of unlocked token value across multiple cryptocurrency projects signifies an active period within the crypto market ecosystem with significant movements anticipated over the coming weeks as these tokens become accessible to participants and investors alike.
Original article posted by Fox News
