TIA rose over 14% in 24 hours as the co-founder addressed insider-dumping accusations, reassuring the community of the project’s long-term financial stability.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
Celestia’s native token TIA TIA $1.62 24h volatility: 7.3% Market cap: $1.11 B Vol. 24h: $107.90 M is currently trading at $1.59, up by over 14% in the past 24 hours.
This comes as the project’s co-founder Mustafa Al-Bassam addressed rising concerns over allegations of insider token dumping and weakening community trust.
In a June 23 post on X, he insisted the team remains committed, explaining that market fluctuations are common in the crypto space. He noted that Celestia is financially secure with more than $100 million in reserves and a projected operational runway exceeding six years.
Despite the FUD (which is getting more ridiculous by the day), all Celestia founders, early employees and core engineers are still here and working as hard as we did when Celestia started 5 years ago.
So say that Celestia did 9/11 for all I care or whatever FUD you want, I’ve… https://t.co/lvYDO9bqUn
— Mustafa Al-Bassam (@musalbas) June 23, 2025
Al-Bassam stated that despite recent negative sentiment, all founders, early contributors, and core engineers continue to work with the same level of dedication as they did when the project began five years ago.
TIA has faced sustained selling pressure over the past year, falling more than 92% from its all-time high of $20.91 in June 2024. Since December, its market capitalization has dropped by over $2.9 billion, now sitting at $1.08 billion.
Analysts have accused Celestia’s insiders of mass offloading tokens at the expense of retail holders.
A recent X thread by pseudonymous researcher Startup Anthropologist alleged that team members quietly sold tokens while social media influencers were paid to hype TIA.
Long-time community member CryptoPablo pointed out that the team had multiple opportunities to revamp the tokenomics structure to show greater support for retail investors. He suggested that a proactive change would have signaled genuine community care.
To be honest, everyone knows what you’re building is game-changing.
Yeah, some of the FUD went too far — I get that.
But honestly, and I know you’ve probably heard this a thousand times already: you really could’ve changed the tokenomics a long time ago.
That would’ve been a…
— CryptoPablo (@CryptoBaller6) June 23, 2025
Further frustration is aimed at Celestia’s token unlock schedule. Critics argue the three to four-year timeline allows large holders to systematically sell their rewards, eroding the token’s value and trust.
But why do you have a token unlock that lasts 3/4 years!!!!!!!!!!!
When you created the Roadmap what were you thinking?
“3/4 years are fine to get to 100% of the supply”.@musalbas
I believe in $ETH and little else…..but I don’t believe in those who unlock all my supply in…
— ride OR die.eth (@CiaraChaser) June 23, 2025
On the daily chart, TIA is showing early signs of a potential short-term reversal. The RSI has bounced from oversold territory, indicating a relief rally could be in progress.
However, the cryptocurrency has to hold above $1.55 support to confirm bullish sentiment. RSI falling back below 30 could lead TIA to retest lows near $1.30.
TIA price chart with RSI and Bollinger Bands | Source: Trading View
Meanwhile, the price has also recently dropped below the lower Bollinger Band but is now re-entering inside the band. If TIA breaks above the $1.80 mid-band resistance (20-day SMA), it could aim for the upper Bollinger Band near $2.25.
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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.