$TIA Analysis: Celestia Secures $100 Million in Funding Ahead of Major Token Unlocks - BeinCrypto Analytics

The Celestia Foundation has secured $100 million in funding led by Bain Capital Crypto, raising total capital to $155 million. Specific allocations for the new funds are undisclosed.

Following the announcement, Celestia's native token, TIA, surged nearly 21%, stabilizing at a 12.25% increase and currently trading at $6.22 with a market cap of $1.36 billion. Despite this rise, TIA remains over 65% below its February 2024 highs. Co-founder Mustafa Al-Bassam highlighted the team's commitment to a new technical roadmap.

The announcement precedes a significant token unlock on October 31, releasing 175.74 million tokens, worth about $1.12 billion. This event raises concerns about market volatility, prompting some traders to consider shorting TIA. As October approaches, effective risk management will be essential for navigating expected market fluctuations.