Celestia (TIA) Under Dark Cloud: Gigantic Token Unlock Looms
A humongous unlock can push the market both ways, but current investor behavior reveals an alarming trend.
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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.
Celestia, a modular data network, has announced its upcoming Ginger upgrade, a key network enhancement that will improve transaction speed and finality times. The Ginger upgrade, set to go live in November 2024, will reduce block times from 12 seconds to 6 seconds.
Bitcoin (BTC) has recovered after facing significant selling pressure. On the 23rd, it dropped to a day low of $65,198 before recovering and pushing back above $67,000.
Celestia, the modular data network, has risen for three consecutive days after developers provided an update about an upcoming upgrade. Celestia (TIA) token rose to $6.28, up 60% from its lowest level this year, bringing its market cap to $1.
Celestia's breakout is drawing attention as it approaches a critical resistance at $6.9.
Bitcoin price tanked as altcoins posted modest gains.
Celestia's (TIA) price remains uncertain as both trend indicators and key levels fail to provide a clear direction. The ADX and Ichimoku Cloud show weak momentum, indicating a lack of decisive strength from either bulls or bears.
Celestia Labs reveals its Mammoth Mini testnet, achieving 27MB/s throughput with 88 MB blocks, marking significant progress towards 1GB blocks.
Celestia (TIA) exhibited a bullish stance on Monday, up 4% over the past day as Bitcoin flirts with the $70,000 mark, currently changing hands at $69,020. Meanwhile, ecosystem developments show TIA could fail to capitalize on the much-awaited “Uptober” rally. The crypto project will unlock 80.23% of Celestia's circulating supply (valued at approximately $1.
In 10 days, modular blockchain project Celestia (TIA) will release 80.77% of its circulating supply, valued at $1.05 billion. This impending token release has sparked concerns about potential selling pressure, which could affect TIA's price.
Celestia shows signs of breaking its consolidation, but overbought signals could spark volatility.
Celestia (TIA) has recently faced significant headwinds in the cryptocurrency market, registering a decline of approximately 7.5% in just 24 hours. This drop has erased a portion of the gains the altcoin had previously enjoyed, largely driven by heightened selling pressure.
Bitcoin (BTC) briefly climbed to $68,261 as the crypto market remained posted further gains as optimism grows around riskier assets such as cryptocurrencies. BTC bulls are confident the world's largest cryptocurrency will reach a new all-time high, with the US election outcome also set to play a vital role after both candidates spoke in support of crypto.
Celestia could face potential selling pressure by the end of October due to its major token unlock event, Illia Otychenko, Lead Analyst at CEX.IO, told crypto.news. On Oct. 30, 175 million Celestia (TIA) tokens, accounting for 16.
Celestia (TIA) has displayed a remarkable performance over the week, swiftly recovering from the early October crash. The token is now leading the crypto market's recovery in the daily timeframe, suggesting a possible continuation of its bullish momentum before the month ends.