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The crypto markets saw significant turmoil over the past 24 hours, with over 100,000 traders impacted by mass liquidations, greatly raising concerns during the latest market downturn. Bitcoin (BTC) briefly dipped below the $60,000 mark on October 3 before recovering and pushing back above $60,000.
A closely followed crypto strategist is warning that one modular blockchain project may be on the verge of collapse. Pseudonymous analyst Altcoin Sherpa tells his 224,000 followers on the social media platform X that layer-1 Celestia (TIA) could plummet by more than 77% from its current value due to prolonged investor selling.
The cryptocurrency market has been showing signs of struggle lately, and Celestia (TIA) is no exception. Recent analyses indicate that TIA might continue its downward trajectory, potentially hitting a price of $4.55 in the coming days.
The modular blockchain network Celestia will conduct the large token unlock in October, with a massive $1 billion worth of TIA set to be released. Many of its holders have begun selling their tokens before this event.
According to RootData statistics, 97 publicly disclosed crypto VC investments occurred in September, representing a 12.6% decrease from August's 111 rounds.
The market isn't in favor of a TIA upswing. Here's a look at the technical aspects.
October marks significant token unlock events for several major projects.
SUI is not suffering from today's unlock, but TIA is for the end-of-month unlock.
TL;DR By October 2024, $1.3 billion worth of tokens will be unlocked on the market. Notable projects include Celestia, Sui and Aptos, with major releases scheduled. Investors should be on the lookout for potential impacts on cryptocurrency prices due to these unlocks.
The largest token unlock of the month belongs to Celestia, which will unlock 175.56 million TIA tokens on October 30.
The upcoming $1.3 billion token unlock could significantly impact market dynamics, potentially increasing selling pressure and volatility. The post Celestia, Sui, and Aptos set for $1.3 billion token unlock next month appeared first on Crypto Briefing.
While Celestia's monster $1 billion unlock dominates the rest of the field, several projects have large unlocks scheduled for the month of October.
The crypto venture capital scene is busy; Binance founder and former CEO Changpeng Zhao completes a four-month sentence; and SEC chair Gary Gensler addresses Bitcoin in a TV appearance.
The biggest raise this week came from Celestia. It announced a $100 million round led by Bain Capital Crypto, with participation from 1kx, Syncracy Capital, Placeholder and Robot Ventures.
In this week's venture capital update, more than $253 million flowed into the crypto startup world, although the bulk of that funding went to the blockchain network Celestia Foundation. Crypto.
Uptober is just around the corner. Crypto traders are eagerly anticipating the market's usual rally at this time of year.
TL;DR Celestia (TIA) will unlock $1.1 billion worth of tokens on October 31, making it one of the most significant launches of the month. Cheelee will also be performing a significant $300 million unlock on October 10, although it is facing market stability issues following recent price fluctuations.
The release of Celestia's $1.1B tokens is just one part of the massive token unlock wave coming in October.
The looming token unlock will raise concerns about prices?
On October 31st, Celestia will release tokens worth a whopping $1.1 billion. Additionally, $300 million in Cheelee tokens will be available starting on October 31st.
Celestia tokens worth $1.1 billion will be unlocked on Oct. 31, while $300 million in Cheelee tokens will be released on Oct. 10.
TIA has outperformed the CoinDesk 20 Index by a wide margin.
The cryptocurrency market remains a mix of volatility and opportunity. While Bitcoin struggles to maintain its momentum against the 200-day moving average, several altcoins are displaying notable strength.
Layer-1 modular blockchain Celestia (TIA) is soaring after the project's foundation raised $100,000,000 to support the ecosystem. According to the Celestia Foundation, the nonprofit group set up to support the TIA network, the $100 million fundraising was led by Bain Capital Crypto.
