On October 30th, the first major unlocking of Celestia tokens (TIA), the native asset of the modular network of the same name, will take place.
In total, more than 100,000 units will be distributed. 181 million TIA between investors and main contributors of the projectrepresenting 17.68% of the total supply, equivalent to more than $1.1 billion.
According to data on-chain of Token Track, Celestia has a total supply of 1.071 billion of TIA, of which 212 million are in circulation, representing 20%.
Currently, the token price is experiencing a surge due to announcements about developments in its networkIn one week, the price went from $5.04 to $6.80.
At the time of publication of this note, its price is $6.11.
As things stand, by the end of October there will be 401 million TIA tokens in circulation, making it a highly inflationary asset if there is no corresponding increase in demand, this creates downward pressure on the asset price.
Unlike digital currencies like bitcoin (BTC), TIA has no emission limit, which increases the chances of inflation. That’s why investors could experience price drops if demand isn’t sufficient, raising questions about the project’s long-term stability.
News on the Celestia Network
Celestia is a modular cryptocurrency network designed to improve scalability, flexibility, and efficiency. Modular networks divide functions into different components or “modules” that can interact with each other.
As reported by CriptoNoticias, at the beginning of the month Celestia Labs announced that it will increase its block size to 1 gigabyte (GB). In its roadmapthe development team explained that the goal of the update is to improve performance measured based on the amount of gas per second (throughput) and a reduction in transaction fees on the network.
Increasing the size of its blocks would mean greater data storage capacity and could process more transaction volume. It will also allow developers to execute more rollups or decentralized applications (dApps) without generating delays in the network.
To achieve this goal, the organization behind the network has raised 100 million dollars in a funding round led by cryptocurrency investment firms Bain Capital Crypto, Syncracy Capital, 1kx, Robot Ventures and Placeholder.
