Almost $2 billion worth of tokens will be released from major projects in October, with 175.75 million Celestia tokens — $1.1 billion at current market prices — making up a large portion of this month’s total unlocks.

According to crypto investment tracker DropsTab, $1.1 billion worth of Celestia tokens will be released on October 31. These tokens are allocated to the project’s initial core contributors, research and development, Series A and B investors, and seed round investors.

Celestia is a modular data accessibility network that helps users launch their own blockchains. In 2022, its founders said the project aims to help developers launch blockchains as easily as they deploy smart contracts.

The project became very popular in the last quarter of 2023, pushing the price of TIA tokens upwards, reaching an all-time high of $20.85 on February 10. Since then, the price has been on a downward trend and currently stands at $6.51, according to data.

Alongside TIA, Cheelee, a Web3 social networking project that rewards users for watching videos, is planning the release of its $300 million crypto token on October 10. DropsTab data shows that these tokens were allocated to the project’s advisors, reserve fund, marketing, liquidity, team, community pool, and private round investors.

While the social application was preparing for the update on September 20, the social application suspended withdrawals for rewards and allowed withdrawals on September 24. Cheelee tokens dropped from $16 to $12 on the day the withdrawals opened.

Besides TIA and CHEEL, which represented 70% of all token unlocks in October, other notable unlocks include Aptos, Arbitrum, Axie Infinity, ImmutableX, GateToken (GT), Starknet, Internet Computer, and Ethena Labs . These projects are expected to release almost $600 million worth of crypto tokens for the market.

Aptos is scheduled to release $90 million worth of APT tokens on October 12. These tokens are allocated to the project’s foundation, main contributors, investors and the community.

While the unlock amounts of Arbitrum, Axie Infinity, ImmutableX and GateToken range from approximately $50 million to $70 million, the crypto unlock amounts of Starknet, Internet Computer and Ethena Labs are between $20 million and $30 million.