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🔥 Celestia’s (#TIA ) 176 Million Token Unlock Stirs Market Unrest TIA’s price has slumped over the past 24 hours, following Celestia’s 176 million token unlock on Wednesday. This substantial influx of tokens has intensified downward pressure, leading to a nearly 10% drop in TIA’s value. With bearish sentiment growing, the altcoin appears likely to face further declines. This analysis examines the factors behind this trend. 🔸 Celestia’s Token Unlock Leads to Spike in Selling Pressure On Wednesday, Celestia unlocked 176 million TIA tokens, valued at $890 million at current market prices. This influx of new tokens has increased TIA’s circulating supply and put significant pressure on its price. TIA currently trades at $4.68, shedding 9% of its value over the past 24 hours. Token unlocks often create uncertainty and fear among investors, especially if they perceive a high risk of selling pressure from token holders. This has been the case for TIA, despite clarifications that not all of the unlocked tokens would be immediately available for sale. In a post on X, Taran Sabharwal, CEO of Stix trading platform, explained that Celestia’s 21-day unstaking period means that anyone planning to sell their unlocked TIA tokens has likely already unstaked. As a result, the expected total selling pressure from the token unlock stands at 92.3 million TIA, or roughly $460 million. “This equates to a max selling pressure of ~$460M. What is also interesting here is that this accounts for <50% of the total cliff unlocks, which means that the sell pressure is half of what people have been expecting,” Sabharwal posted. 🔸 Selling Activity Underway, But There Is a Catch BeInCrypto’s assessment of the TIA/USD one-day chart confirms the uptick in selling pressure following the Celestia 176 million token unlock. As of this writing, the coin’s Relative Strength Index (RSI), which measures oversold and overbought market conditions, is in a downward trend at 38.46. #Celestia
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🐸 PEPE Coin The First Meme Coin To Trade In Japan: How Will Price. BITPoint Japan has announced the listing of PEPE coin. This marks the first time a meme coin will be available for trading in Japan. The October 30 announcement represents a major milestone in the mainstream adoption of meme coins globally. 🔸 Pepe Coin Makes its Entry in Japan BITPoint Japan is introducing PEPE across three key services: spot trading, lending, and savings. The exchange is celebrating the listing with promotional campaigns. This includes a purchase campaign offering 100,000 yen worth of PEPE to 10 lucky winners who trade more than 10,000 yen of the token. This campaign runs until November 27th at 3:59 p.m. Despite this major development, PEPE’s recent market performance has been underwhelming. 🔸 Pepe Coin Fails to Show Momentum The token has shown negative price movement across multiple timeframes. According to CoinGecko data, PEPE was down 0.2% over 24 hours, 3.2% in the past week, and a substantial 15.1% drop in the last 30 days. Technical analyst Chris McCrypto notes that while the weekly chart showed promise, recent performance has fallen short of expectations. Key technical indicators present mixed signals: The MACD has failed to complete a bull cross, while both the stochastic RSI and regular RSI have recently experienced bear crosses. However, positive factors include the price maintaining position above the breakout trend line and the wave 3 high of 0.0906, as well as recovery above the weekly 20 SMA (bull market support band) at 0.0936. 🔸 Analyst Suggests Potential Breakout for PEPE Another analyst, CryptoDoc, suggests a potential retest around support levels before a possible breakout, emphasizing PEPE’s tendency for rapid price movements. The Japanese listing comes at a crucial time for PEPE, as the token struggles to match the performance of both the broader cryptocurrency market and its meme coin peers. While the BITPoint Japan listing represents a major milestone for adoption. #PEPE #Pepecoin
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⭐️ Wall Street's Billionaire CEO, Who Donated the Most to Trump, Reveals His Bitcoin Portfolio! How Much BTC Does He Have? Howard Lutnick, CEO of Cantor Fitzgerald, which manages $13.2 billion, recently made bold statements about Bitcoin (BTC) and Donald Trump. Speaking on a recent podcast with Anthony Pompliano, Howard Lutnick said he has millions of dollars worth of Bitcoin. Reiterating that Bitcoin is not a currency but a commodity, as he stated before, Lutnick said that they see declines as opportunities and buy in every decline. Stating that he has hundreds of millions of dollars worth of BTC, the famous CEO stated that the price of Bitcoin will continue to rise and claimed that the BTCs in his possession will reach billions of dollars next year. “As I've said before, Bitcoin is not money, it's a commodity. It's like gold or oil. Its scarcity and mining nature give it enduring value and growth potential.” Lutnick said that institutional acceptance will increase further, and with increasing institutional acceptance, the price will increase even more. He Became the Biggest Donor to Donald Trump! Lutnick, known for his support for Trump, said Donald Trump is the best choice for wealthy Americans. Praising Trump’s stance, Lutnick listed the former president’s good points. Accordingly, he stated that Trump also cares about the American worker and growth in America, but also supports his being a crypto advocate and wanting to impose tariffs. Fox Business correspondent Eleanor Terrett shared on X that the crypto industry has donated more than $200 million to PACs, candidates, and political organizations. According to Terret's post, top donors to former President Donald Trump included Howard Lutnick with $6.4 million, Gemini's Winklevoss twins with $2.04 million and Kraken founder Jesse Powell with $844,943. #BTC #Bitcoin
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Major Chainlink (LINK) Upgrade Goes Live, Price Reacts Chainlink is evolving rapidly, with a major Cross-Chain Interoperability Protocol (CCIP) upgrade now live on the mainnet. The decentralized Oracle service said this CCIP v1.5 upgrade has the power to transform how connected protocols share data. Chainlink named four unique enhancements that went live alongside the upgrade. 🔸 Chainlink CCIP upgrade: What changed? Per the Oracle protocol, CCIP now has its own tailor-made CCT standard. With this, the CCIP can enable cross-chain native tokens featuring self-service deployments, full control and ownership, enhanced programmability and zero-slippage transfers. 💬 Introducing the CCIP v1.5 upgrade. Cross-Chain Token standard, Self-serve token onboarding, CCIP SDK & Token Manager, Security & privacy enhancementsHere's why #Chainlink CCIP is the #1 choice for building cross-chain — Chainlink (@chainlink) October 30, 2024 The upgrade also introduces a unique simplicity that makes developers adjust to the new changes without a hassle. Chainlink is a dynamic digital currency that is constantly evolving. Beyond the latest update, the protocol has entered the list of the most active protocols in the industry. With Oracle powering the majority of smart contracts in Web3, its relevance is notably not overblown. As part of the new CCIP v1.5 upgrade, it has launched the Token Developer Attestation, which it said is in private beta. This product will help developers to double-check their work to guarantee precision. With this, they can even attest to token burn events before the assets are minted, encouraging trust across the board. 🔸 LINK price in mix Following this update and the broader trend in the digital currency ecosystem, the LINK price has maintained a mildly resilient outlook. As of writing time, LINK price is up by 4.92% in 24 hours to $12.05. Riding on the general outlook of the market that has sent the price of Bitcoin (BTC) up, the token has pared off the losses of the past week and is now changing hands for 5.96%. #LINK
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⭐️ Here’s Why Celestia (TIA) Might Struggle to Stay Above $5 After $890 Million Unlock Modular data availability blockchain project Celestia (TIA) is set to release 175.59 million previously restricted. This Celestia token unlock today, October 30, marks the largest since the project’s launch in October 2023. Given this substantial supply shock, TIA’s price is likely to face increased volatility, as this unlock will nearly double the tokens already in circulation. In this analysis, BeInCrypto examines what investors can expect from the cryptocurrency’s price after the event. 🔸 Celestia OTC Sales Could Mitigate Selling Pressure According to Tokenomist (formerly Token Unlocks), the Celestia token unlock is valued at $890 million at the current price. When released, the total tokens in circulation will be 80% of the total supply. Cryptocurrency projects often lock a portion of their token supply and release it gradually to prevent early investors and insiders from selling large quantities immediately after receiving their allocations. When the projects unlock these tokens, they become available for sale, making such events typically bearish. According to this thesis, TIA’s unlock today is likely to contribute to its 14% decline over the past seven days. Amid this, on-chain data from Santiment shows that TIA’s volume has increased to $183.73 million. For context, a sharp increase in trading volume can validate the onset of a breakout or a breakdown. Therefore, Celestia’s high trading volume suggests greater involvement from market participants. However, it also indicates rising selling pressure, which increases the likelihood of the downtrend continuing. However, Taran Sabharwal, founder of an Over-The-Counter (OTC) trading platform, STIX, disclosed that some of these unlocked tokens have already been sold via OTC. This sell-off likely contributed to Celestia’s price decline over the past week. #TIA #Celestia
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