Venture capitalist Chris Burniske is reaffirming his stance on one of the leading altcoins for this crypto market cycle.
Burnieski said he is still buying Celestia (TIA) tokens on social media platform X and is expecting a huge recovery despite the 77% drop from its all-time high.
The investor also said fears surrounding a mass token unlock for TIA next month are likely overblown.
“While I still miss TIA, the haters are spinelessly flocking to the downtrend. When Celestia recovers, I won’t be the one to think, ‘Instead of booing, I could have bought TIA for under $5…’
Everyone and their moms are obsessed with the ‘big $TIA unlock’ in October. Paid groups and momentum bottom trolls are drooling with joy, claiming that $TIA will crash if liquidity is given to ‘evil VCs’, thus piling into these expensive shorts.
What TIA Bottom Trolls Don’t Understand:
1) Celestia as an ecosystem is firing on all cylinders, with ideologically committed and diverse builders experimenting with passion. It reminds me of early Bitcoin, Ethereum, and Solana Energy.
2) The ‘evil VCs’ who were provided liquidity are unlikely to sell as expected in October, because they see the ecosystem traction and aspirations of the team. Many of TIA’s biggest backers are less short-term oriented than portrayed.
3) When the unlock occurs, Mr. Market will realize that there is much less selling pressure than these short holders expected, and the short holders will crash even if they had not crashed before.
4) Buyers who have been alienated due to concerns about unlocking may feel reassured and take action due to positive price movements and reduced uncertainty.
5) The TIA market is emerging from its current semi-paralyzed state.”
Celestia aims to be a “modular data availability” blockchain that scales with the number of users, giving users the ability to start their own chains.
At the time of writing, TIA was trading at $4.84 and had a market cap of $1.02 billion.
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