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TIA has defied expectations following the Celestia token unlock event, which saw the release of tokens worth $890 million earlier this week.

The cryptocurrency market has experienced a major hit this week, with top tokens recording a significant correction in their respective valuations. Moreover, the BTC price has recorded a low of $68,779, indicating rising uncertainty in the crypto space.

The crypto markets are gearing up and heading towards the monthly close, which may keep up the ‘Uptober' vibes. While the Bitcoin price is just a few inches away from the highs, the market participants have become more optimistic over the next price action.

TIA's price has slumped over the past 24 hours, following Celestia's 176 million token unlock on Wednesday.

Celestia (TIA) approaches a crucial token unlock event, the cryptocurrency is bracing for potential volatility that could reshape its market trajectory. Scheduled for October 30, this unlock will release a substantial 175 million TIA tokens into circulation, creating both opportunities and challenges for traders and investors alike.

In an analysis shared on X, Taran Sabharwal, CEO of Stix—a leading OTC trading platform specializing in liquidity solutions for private crypto transactions—provided insights into the upcoming unlock dynamics of the Celestia (TIA) token scheduled for October 31, 2024. His assessment suggests that the market may be underestimating the potential impact on TIA's price action heading into November.

Will TIA see renewed interest amid potential milder impact from its token unlocks?

Modular blockchain network Celestia has begun a large unlock of its native token, TIA, valued at roughly $890 million at current prices. At time of writing, TIA is down nearly 20% in the last week, and is 77% down from its all-time high as the unlock takes place.

During Wednesday's trading session, Celestia price witnessed a 6% plunge to reach $4.9, while its market cap fell to $1.09 Billion. Despite the broader market recovery, the sharp drop is likely fueled by bearish market sentiment surrounding the upcoming token unlock.

Celestia's native token, TIA, is set for a major move today as it undergoes a significant token unlock event that would add approximately 175 million tokens to its circulation—nearly doubling the existing supply.

Modular data availability blockchain project Celestia (TIA) is set to release 175.59 million previously restricted. This Celestia token unlock today, October 30, marks the largest since the project's launch in October 2023.

Bitcoin (BTC) soared past $73,000 earlier today as it rose to $73,544, reaching levels last seen when it posted its all-time high over eight months ago amid growing optimism in the markets, a potential Republican victory in the upcoming US elections, and positive technical indicators. Analysts believe BTC is poised to post a new all-time high as early as this week if current positive trends persist.

Today the circulating supply will suddenly increase by 80%, with a possible negative impact on the price.

Token unlocking events usually weigh on prices, but multi-month reaccumulation, crowded shorts and bullish crypto prices could lead to a surprise rally, crypto analyst Will Clemente said.

A humongous unlock can push the market both ways, but current investor behavior reveals an alarming trend.

Celestia (TIA) price faces significant challenges in the coming days as multiple factors align to influence its movement. The upcoming token unlock event, which will introduce a substantial amount of new supply, could heighten selling pressure and add volatility.

TL;DR Celestia (TIA) is set to unlock $923.41 million worth of tokens, leading to a wave of token unlocks totaling over $1.543 billion across 21 tokens. The unlock includes 180 million Celestia tokens, sparking concerns about potential market volatility and price fluctuations.

Several activities are in the lineup for top crypto news this week, positioning concerned tokens for volatility. Among the top stories are the highly anticipated, including Binance Blockchain W eek, the debut of Avalanche ecosystem's ARENA token, and the upcoming Frax announcement.

A considerable amount of token unlocks is scheduled between October 28 and November 4, with Celestia (TIA) leading the pack. According to data from Tokenomist, the combined value of scheduled unlocks exceeds $1.543 billion.

Over $1.5 billion in crypto tokens is set to flood the market this week, led by major unlocks for TIA, SUI, MEME OP IMX ZETA TRIBL DYDX GAL ADA AGI, etc. which will see huge amounts added to their circulation.

Celestia's $1.06 billion TIA unlock may redefine its price trend, with sentiment indicators split.

TIA is aiming for a long-term price target of $11, contingent on its current bullish pattern remaining intact.

Celestia is set to host a series of modular-focused events in Bangkok during Devcon, featuring workshops, talks, and community activities for blockchain developers.

Celestia announces the Ginger upgrade, boosting data throughput and reducing block times. Key changes include BBR adoption and new CIPs, enhancing network performance.