PANews reported on October 30 that in response to the 176 million TIAs to be unlocked tonight, Taran, the founder of the OTC platform STIX, posted on the X platform that a total of 92.3 million TIAs will enter circulation after unlocking, which will constitute the upper limit of the selling pressure in the spot market. TIA has a 21-day unlocking period, and those who want to unlock TIA for trading on October 31 have already unlocked it in advance. The sum of the number of unlocked tokens, the number of tokens in the 21-day unlocking queue, and the number of approximately 24.1 million uncounted tokens equals 92.3 million TIAs. This is equivalent to a maximum selling pressure of approximately US$460 million. Another interesting data point is that the ratio of the (actual) increase in circulating supply to the current circulating supply has reached a dilution level of 41.8%. A large number of tokens that were unlocked for the first time were sold to OTC buyers who hedged on perpetual contracts, resulting in a surge in open interest in the past few months. It is expected that these short positions will be reduced significantly, partially offsetting the selling pressure in the spot market. This funding reset could signal a long position for spot buyers. Short positions will continue to decline until unlocked, and the funding rate could reset to 0 or positive. Investors who missed the October 9th unlock deadline may also unlock during October, causing spot supply (amount to sell) to increase further in November. Regardless, the supply shock is huge, and this is the most anticipated unlocking event of this cycle. This, combined with the suppressed OTC premium, could bring a lot of trading activity to this coin.
According to previous news, Celestia (TIA) will unlock about 175.6 million tokens at 10 pm Beijing time on October 30, accounting for 79.75% of the current circulation and worth about US$941 million .
