{"id":140948,"date":"2024-10-30T17:30:30","date_gmt":"2024-10-30T15:30:30","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=140948"},"modified":"2024-10-30T13:51:23","modified_gmt":"2024-10-30T11:51:23","slug":"this-altcoin-is-set-for-a-major-unlock-boosting-supply-amid-market-optimism","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/this-altcoin-is-set-for-a-major-unlock-boosting-supply-amid-market-optimism\/","title":{"rendered":"This Altcoin is Set for a Major Unlock Boosting Supply Amid Market Optimism"},"content":{"rendered":"<p><strong><a href=\"https:\/\/cryptorank.io\/price\/celestia\/vesting\" target=\"_blank\">Data<\/a> <\/strong>indicates that around 176 million previously locked <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/celestia\/\">Celestia (TIA)<\/a> <\/strong>tokens will become available, representing approximately 80% of the total supply. This will mark the largest unlock since TIA&#8217;s launch last October.<\/p>\n<p>Token unlocks can exert a bearish pressure on prices. Typically, altcoin projects restrict a portion of their token supply to prevent large sell-offs by early investors and insiders immediately after allocation. Once unlocked, these tokens can be traded, often leading to price declines.<\/p>\n<p>Taran Sabharwal, founder of the OTC trading platform STIX, noted that after this unlock, around 92.3 million TIA tokens will enter circulation, which includes unstaked tokens, those in the 21-day unstaking queue, and roughly 24.1 million unregistered tokens. The estimated maximum selling pressure could reach $460 million.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/optimism-foundation-grants-25-million-op-tokens-to-kraken-for-strategic-blockchain-partnership\/\" title=\"Optimism Foundation Grants 25 Million OP Tokens to Kraken for Strategic Blockchain Partnership\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/04\/optimismopred-6-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Optimism Foundation Grants 25 Million OP Tokens to Kraken for Strategic Blockchain Partnership<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>David Shuttleworth, a partner at Anagram, pointed out that the large volume of unlocked tokens could affect TIA&#8217;s price. He remarked that the amount being unlocked far exceeds the average daily trading volume of $50 million to $200 million observed last month, although he suggested that the long-term effects might be positive.<\/p>\n<p>Cryptocurrency analyst Will Clemente added that the overall bullish trend in the crypto market enhances the chances of TIA surprising investors with a price rally, even in light of the upcoming unlock. He noted that Bitcoin\u2019s significant rise has decreased the likelihood of TIA experiencing a downward price trend following the unlock event.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors often feel apprehensive about token unlock events due to their potential influence on market prices, and this altcoin project is preparing for a significant unlock on October 30.<\/p>\n","protected":false},"author":3,"featured_media":139094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-140948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>This Altcoin is Set for a Major Unlock Boosting Supply Amid 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