When Celestia airdropped its TIA token to 580,000 users in 2023 it was the plat du jour among traders and investors, with the project saying the release aligned with a new „modular era.”
However, despite rallying to a dizzying $20 price point in September, 2024, it has since slumped to less than $1.65 in a desperate plight spurred by a series of massive cliffs in the token’s vesting schedule.
Data from Tokenomist shows that core contributors and early backers, notably a slew of venture capitalists, could sell tokens purchased for relatively cheap in early fundraising rounds onto the open market.
This coincided with TIA’s precipitous move to the downside, although it’s worth noting that the token’s market cap, currently at $1.2 billion, actually increased by 50% despite the token losing 90% of its value due to the sheer scale of supply increase.
Other examples
TIA’s price collapse mirrors similar drawdowns across newer tokens. Blast’s 10.5 billion token unlock in June, over half of
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