During the trading session on Wednesday, the price of Celestia experienced a noticeable decline of 6%, dropping to $4.9. This price movement was accompanied by a reduction in its market cap, which fell to $1.09 billion.
Despite a general recovery seen in the broader market, Celestia's price drop appears to be driven by negative market sentiment. Traders and investors are particularly concerned about the impending unlocking of a substantial number of tokens, specifically 176 million TIA tokens.
These concerns raise questions about whether this bearish outlook will push the TIA price below the critical $5 threshold. Investors remain worried as they navigate these market dynamics, assessing whether the token unlock will exert additional downward pressure on prices.
