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OPINION: TIA unlocking volume is several times the average daily trading volume, which may lead to increased volatility

OPINION: TIA unlocking volume is several times the average daily trading volume, which may lead to increased volatility

Bitget2024/10/29 22:45


Some 175 million locked Celestia (TIA) tokens were unlocked on 30 October, including releases to early investors, which will increase token supply by 80%, the largest single unlocking event since the token's launch last October. The tokens are currently valued at $920 million, with an exchange price of just over $5 per token. ‘There could be some noticeable impact’ or lead to increased volatility, said Anagram partner David Shuttleworth. He noted that the number of tokens unlocked is several times the average daily trading volume of TIA over the past month between $50 million and $200 million. Crypto analyst Will Clemente said the likelihood of a TIA rally following the unlock has increased, stating, ‘Bitcoin price action further reduces the likelihood that Thursday's TIA unlock will have a bearish impact on the market.’

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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