Celestia, denoted as TIA in the cryptocurrency market, has been through a roller coaster ride lately. Its price saw a significant rise, hitting a 75% increase before meeting resistance, leading to expectations of consolidation. However, concern surrounds Celestia due to the impending unlock of tokens worth $890 million, with speculation of the price potentially crashing by 30%. Such development marked its performance risky but also present opportunities for buying on the dip. Meanwhile, analysts remain optimistic, hinting at a potential breakout that can result in over 231% gains.
The highlight of Celestia’s recent activities is the successful fundraising of $100 million led by Bain Capital Crypto for its modular blockchain network. Despite such a positive update, Celestia's TIA token faced a 23% decline over the last week before the $853-million unlock. Further in the technology sector, Celestia UK's eScan successfully tracked the JoeySat smallsat, and there are rumors of Celestia and Uzma moving toward partnership in ground segment technologies.
On the downside, pressure remains high for TIA price due to upcoming large token unlocks. Celestia, Sui, and Aptos are prepared for a substantial token unlock estimated to be around $1.3 billion. However, not everything points to a bleak future. Surges of up to 32% were recorded following funding announcements, and Celestia is set to surpass Ethereum in data storage. Lastly, despite the impending token unlock, the Celestia foundation managed to raise an impressive $100 million, causing a 17% bounce in TIA's price.
Celestia News Analytics from Fri, 12 Apr 2024 07:00:00 GMT to Wed, 27 Nov 2024 12:00:37 GMT -
Rating -2
- Innovation 7
- Information 6
- Rumor -1
