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Celestia: First Major Unlock of TIA Tokens is Approaching
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On October 30, 2024, the Celestia ecosystem will experience a pivotal moment: the first major unlock of TIA tokens, the native asset of the Modular Network. This event will mark the distribution of over 181 million tokens among investors and core contributors to the project.
The amount released represents 17.68% of the total supply of TIA tokens, which currently stands at around 1.071 billion. In financial terms, the value exceeds $1.1 billion, which generates great expectations in the market.
According to data from the Token Track platform, there are currently 212 million TIA tokens in circulation. This represents 20% of the total supply. With the unlock, the number of tokens in circulation will jump to 401 million, which could create significant inflationary pressure on the coin’s price.
Unlike cryptocurrencies like Bitcoin, which have an issuance limit, TIA does not have such a ceiling. This feature raises concerns about inflation if demand for the asset does not keep up with supply growth.
Celestia: an evolving modular network
In recent days, the TIA token has seen a significant surge in value due to announcements about developments on the Celestia network. In a week, the price has risen from $5.04 to $6.80.
However, with the increase in the supply in circulation, the expectation is that the volatility of the asset will increase, putting investors on alert for possible price drops.
Celestia is an innovative modular network that aims to improve scalability and efficiency in the blockchain industry. Unlike traditional networks, Celestia separates its functions into “modules,” allowing different components of the network to interact more effectively.
This modular architecture offers greater flexibility for the development of decentralized applications (dApps) and rollups. In addition, it promises to increase network performance without compromising its security or efficiency.
Celestia Labs recently announced plans to increase the network’s block size to 1 gigabyte, an upgrade that aims to increase data storage capacity and process a higher volume of transactions. Additionally, the upgrade is expected to reduce transaction fees, which could attract more developers and users to the network.
To support these advancements, Celestia has raised $100 million in a funding round led by firms including Bain Capital Crypto, Syncracy Capital, and 1kx. This capital will help fuel the continued development of the network and the implementation of promised innovations.
Celestia: First Major Unlock of TIA Tokens is Approaching
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Celestia: First Major Unlock of TIA Tokens is Approaching
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Celestia: First Major Unlock of TIA Tokens is Approaching
