The analysis provided by Taran Sabharwal, CEO of Stix, suggests that the upcoming unlocking of Celestia (TIA) tokens on October 31, 2024, may have a larger impact on the token's price than the market is currently anticipating. The analysis indicates that only 50% of the total cliff unlocks will be liquid post-unlock, potentially reducing selling pressure. Sabharwal also noted that OTC buyers who hedged on perpetual futures may unwind their positions, further mitigating selling pressure. The analysis includes assumptions about OTC activity and vesting wallets. Sabharwal concludes that the unlock will create a significant supply shock and generate a lot of action for the coin. Crypto analyst Will Clemente agrees with Sabharwal's analysis and believes that the recent Bitcoin price action reduces the probability of the TIA unlock being bearish. At the time of writing, TIA is trading at $5.00.
- Content Editor ( newsbtc.com )
- 2024-10-30
Celestia (TIA) Set For Major Breakout? Top OTC Exec Warns Of Supply Shock