Venture capitalist Chris Burniske is reaffirming his stance on one of his top altcoin picks for this cryptocurrency market cycle.
Burniske says on social media platform X that he continues to accumulate Celestia (TIA) tokens, anticipating a massive recovery despite a 77% drop from its all-time high.
The investor also says that fears surrounding TIA’s large token release next month are likely overblown.
“I’m still looking forward to seeing TIA as the naysayers pile on the bearish momentum without courage. When Celestia recovers, I won’t be the one haunted by the thought, ‘Instead of scoffing, I could have bought TIA <$5...'"
Everyone is obsessed with the “big $TIA unlock” in October. Paid groups and momentum bottom trolls are drooling with glee, claiming that $TIA will be crushed when the “evil VCs” receive liquidity, hence the accumulation of these expensive shorts.
What TIA trolls don’t understand:
1) Celestia as an ecosystem is firing on all cylinders, with an ideologically engaged and diverse set of builders experimenting with zeal. It reminds me of the energy of the early days of Bitcoin, Ethereum, and Solana.
2) “Bad VCs” receiving cash are likely not exiting their investments as planned in October as they see ecosystem traction and team aspirations. Most of TIA’s largest backers are less short-term oriented than what is being presented.
3) When the unlocking occurs, Mr. Market will likely realize that there is much less selling pressure than these shorts anticipate, and the shorts will be swept away, if they were not before.
4) Buyers who have been sidelined, worried about the risk of unblocking, will be reassured by both the positive evolution of prices, as well as by the reduction of uncertainty, allowing them to act.
5) The TIA market has emerged from its current semi-paralysis.
Celestia aims to be a “modular data availability” blockchain that scales with the number of users and offers users the ability to launch their own chain.
At the time of writing, TIA is trading at $4.84 with a market cap of $1.02 billion.
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