The cryptocurrency market has experienced fluctuations in recent months, a situation that worries many investors. These fluctuations also apply to Celestia (TIA), a new and exciting blockchain project. TIA has experienced a significant decline recently after experiencing a large price increase in a short period of time. This situation has some investors worried about the future of the project. However, experienced cryptocurrency investor Chris Burniske argues that TIA’s price action is similar to Solana (SOL), which had great success in 2020.
Chris Burniske compared Solana to Celestia
Venture capitalist (VC) Chris Burniske sparked a debate within the crypto community by comparing the recent price action of Celestia (TIA) to the price action of Solana (SOL) in 2020. Burniske, a leading figure in the crypto space, says investors are disappointed by TIA’s correction, but they may be overlooking historical patterns.
TIA, a newcomer to the blockchain scene, has seen significant growth in a short time. However, recent price declines have discouraged some investors. Referring to SOL’s 2020 price chart, Burniske highlights a similar pattern. SOL, a then new token, also experienced a correction before witnessing a staggering 10,000% rally the following year. The message clearly reads:
Short-term volatility should not overshadow long-term earning potential. [Yatırımcılar] He complains that the token increased ~10 times in ~4 months in the spot market. Many people forget that SOL had an initial price decline followed by an even steeper climb. If you can’t handle downside volatility, you don’t deserve to be bullish
TIA is down 50 percent since its record high
At the time of this writing, TIA is trading around $10, a drop of more than half from its all-time high. However, the biggest concern for some investors appears to be the token unlocking, which is scheduled for October 31, 2024. This event will release 17.57% of the total TIA supply released. This will raise fears of a potential sell-off that could further increase price pressure.
But Burniske remains optimistic. He noted that Solana is also facing a major token unlock in December 2020. He notes that roughly 80% of the current circulating supply was released at that time. According to Burniske, this unlocking did not hinder the growth of SOL. Instead, it arguably preceded its parabolic rise. “So few people here remember much, right?” he said, implying that investors were overreacting to the upcoming TIA unlock.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.