Celestiaโs native crypto token TIA sparked up a 16% rally on Thursday, liquidating $1.10 in short positions in less than 24 hours. The modular chainโs native token got back into the spotlight on Derivatives with an 96.6% uptick from yesterday, gathering $545 million in Spot trading volume.
Celestiaโs Star Shines Again: $20 On The Horizon?
Presently, traders like Dyslexic Venture now see $2 as the next target for TIAโs price due to several bullish divergences forming on the 12-hour technical charts. โThe last 5 I have seen have ended up 4 winnersโ, bragged the crypto connoisseur, cautiously adding that the โbest part is youโre wrong so quickโ.
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If that plays out, a further opportunity could arrive to reclaim the $20 all-time high (ATH). Hit over a year ago, the $20.85 milestone saw 92.3% retracement, upping the odds of an eventual TIA price reversal, but that heavily depends on utility, such as consistently garnered trading volumes & positive funding rates on Derivatives.
Is Celestia (TIA) seeing the same renaissance in trading on the Spot markets? For now, this is not the case as Celestiaโs Spot trading volume is at $183 million, around three times below the generated volume on Perpetuals markets. Priced at $1.64 at the present moment, TIAโs $2 aim would mean restoring early June levels, as TIA slipped 27.3% since last month.
Should HODLers Be Worried About TIA Unlocks?
With 685.68 million Celestia (TIA) tokens out and about, thereโs still 27.5% of these modular blockchain native coins to be unlocked. The total supply of 1.13 billion TIA tokens will be fully out in circulation in November 2027, while daily linear unlocks keep pouring in new coins until then.
Planned for future initiatives, seed investors, the Research & Development Ecosystem, initial core contributors & other activities, the impact of these TIA unlocks is not necessarily bearish. If all goes according to plan & the funds are used properly to fulfill Celestiaโs ambitious roadmap, most recently the Lotus mainnet upgrade.
On The Flipside
- Celestiaโs Lotus v.4.0 upgrade went live on Mocha testnet, but is yet to launch on the mainnet despite the initial expectations of June, 2205.
- The affiliated protocol changes (CIPs) include inflation reduction by 33% while disabling auto-claim of the networkโs staking rewards.
Why This Matters
Fundamentals-backed price rallies are less susceptible to broader circumstances, such as geopolitical tensions or social sentiment shifts.
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People Also Ask:
TIAโs eyeing $20 with funding rates turning positive (+0.0050%) and a 4.51% spike in Open Interest, signaling bullish vibes and buying pressure.
October 2024 unlocks flooded the market with TIA, sparking FUD over insider dumping. Critics claim execs sold big, tanking trust and price.
Unlocks increase supply, diluting value and fueling bearish sentiment. Despite a recent 11% pump to $1.56, TIAโs down 92% from its peak.
Positive funding rates show longs outweigh shorts, with traders placing leveraged plays on a rebound after TIAโs rise from $1.30 to $1.64.
DYOR! Bullish RSI divergence and trade volumes signal upside, but unlocks could dump prices. Watch $1.7 resistance before jumping in.
