Cryptocurrency project Celestia (TIA) is set to release 175.59 million tokens previously restricted, which will nearly double the tokens already in circulation. This token unlock is expected to increase volatility and has contributed to a 14% decline in TIA's price over the past week. On-chain data shows increased trading volume, suggesting greater involvement from market participants but also rising selling pressure. However, some of the unlocked tokens have already been sold via OTC, potentially reducing selling pressure. TIA's price is currently below key moving averages, indicating bears have the upper hand, with a potential drop to $4.57 in the short term. However, if funding rates reset, TIA could rally toward $6.16.
- Content Editor ( beincrypto.com )
- 2024-10-30
Here’s Why Celestia (TIA) Might Struggle to Stay Above $5 After $890 Million Unlock