Celestia is releasing roughly $62,000 of TIA into the market in less than 24 hours, with another $62,000 following 48 hours later, while the chain’s total value locked sits at $0. Open Interest has surged 23% and the funding rate has turned positive, leaving the token caught between fresh supply and a build-up of leveraged long bets.
Celestia [TIA] will undergo a token unlock that releases roughly $62,000 into the market in less than 24 hours, with another $62,000 following in 48 hours — an amount likely to move the market significantly. The released tokens are channeled toward research and development for the blockchain, and a token unlock bumps the asset’s supply, weighing on its price.
The unlock lands after weeks of decline. TIA has posted a 25% decline year-to-date, with the past day reflecting a more neutral state through a 0.2% gain as of the time of writing.
Celestia’s on-chain metrics stay weak
The chain’s total value locked offers no support here. The metric remains at $0, reflecting how weak the blockchain’s performance has been.
Fees tell the same story. Celestia generated just $53 in fees over the past day. This combination of weakening on-chain performance and an expected volume surge puts Celestia at major risk.
Traders lean long as funding turns positive
Yet sentiment around TIA has turned net positive, with investors showing a growing pattern of long bets. Funding Rate data over the past day spiked significantly, reaching roughly 0.0049% on the chart, according to the latest reading. A positive funding rate implies more bulls than bears in the market, measured by the scale of leveraged positions open on the asset.
Capital is flowing in alongside that shift. Open Interest surged 23% over the past 24 hours, reaching a high of $57.52 million within that period. The rising Funding Rate, at a time when Open Interest has also surged, signals that the new inflow of capital is being channeled toward long positioning in the market.
Liquidation clusters sit on both sides of price
Liquidation heatmap analysis, which identifies clusters of buy and sell orders on the chart, shows TIA in a tight spot from a liquidity perspective. The asset carries distributed sell orders above price, matched by an equal depth of distributed buy orders below price.
Price could therefore swing either way, since both clusters exert the same pull and liquidation clusters are known to act like magnets. But momentum will be the key determinant of where price skews, and with bulls currently in control there is a high chance of an upswing from current levels over the short to near term.
Source: AMBCrypto
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