Celestia (TIA) remains high despite unlocking US$2 billion in tokens

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Celestia (TIA) remains high despite unlocking US$2 billion in tokens
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Celestia (TIA) continues on an upward trajectory, even with the imminent unlocking of US$1.1 billion in tokens scheduled for October 31, 2024. This movement is part of a total unlocking of almost US$2 billion in the market cryptocurrencies throughout October.

With the release of 175.75 million tokens, aimed at early contributors, development teams and multi-round investors, the market impact becomes a concern for investors and analysts alike.

Other projects, such as Cheelee, which also has a major unlock of $300 million worth of tokens on October 10, face stability challenges.

The price of the CHEEL token, for example, fell significantly following a temporary suspension of withdrawals, raising doubts about its ability to maintain value.

Celestia (TIA) resists unlocks

However, TIA, Celestia’s token, appears not to be affected by these negative trends, showing a slight increase of 2.23%, being quoted at US$6.41. Although it is below its all-time peak of $20.91 in February 2024, TIA’s resilience impresses experts.

This unlock not only marks a pivotal moment for Celestia, but it could also shape the future of the network. The project’s popularity has grown substantially since late 2023 as its modular approach has attracted attention from the crypto community.

With this, the cryptocurrency market in general is preparing for one of the most important months of the year, as the absorption of these unlocked assets can directly influence liquidity and price behavior.

Other big names are also in investors’ sights in October. Aptos, Starknet, Arbitrum, ImmutableX, and Axie Infinity release an additional total of $600 million in tokens.

Aptos alone, for example, will unlock US$90 million on October 12th, standing out among this month’s main launches.

This period of massive unlocks, however, does not guarantee immediate appreciation. Many investors are waiting to see how the market will react to the sudden injection of liquidity, especially in a high volatility scenario.

Celestia (TIA) remains high despite unlocking US$2 billion in tokens

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Celestia (TIA) remains high despite unlocking US$2 billion in tokens

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Celestia (TIA) remains high despite unlocking US$2 billion in tokens

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