Venture capitalist Chris Burniske has reaffirmed his confidence in Celestia (TIA), one of his main altcoin picks this cycle of the cryptocurrency market. Burniske noted that despite TIA trading 77% below its all-time high, he expects a major recovery and continues to pick up from the altcoin.
Interest in Celestia Grows
Burniske said fears about TIA’s big token unlock next month are overblown. He said many people are focused on the big unlock in October, and those who think it will negatively impact TIA are reacting by opening short positions.
“I remain long TIA while haters cowardly short in anticipation of a downside move. When Celestia rebounds, the thought of ‘I could have bought TIA for under $5 instead of mocking it…’ won’t bother me,” the VC said in a comment.
Unlocking and Market Expectations
Burniske said that everyone is focused on the “big TIA unlock” in October and that those who think the altcoin will lose value as a result are wrong. According to him, venture capitalists who are described as “bad-faith” will not sell as expected.
According to Burniske, once the bad-faith VCs get liquidity, they are unlikely to sell as expected in October as they see the momentum of the ecosystem and the team’s ambitions. Many of TIA’s biggest backers are less short-term focused than is often portrayed.
The Power and Future of the Ecosystem
Stating that the Celestia ecosystem is ideologically committed and active in all areas with diverse developers, Burniske said that this is the case for early Bitcoin $59,001Ethereum 
$2,318 and recalled the Solana energy. He warned that those who opened short positions would suffer losses if the market realized there was less selling pressure than expected, saying:
The Celestia ecosystem is firing on all cylinders, with ideologically committed and diverse developers experimenting with enthusiasm. It reminds me of the energy of early Bitcoin, Ethereum, and Solana.
He also predicts that buyers who were waiting on the sidelines and were worried about the lockdown opening will take action as uncertainty decreases and price action improves. Burniske thinks the TIA market will break out of its current semi-paralyzed state.
Celestia aims to be a blockchain that provides “modular data accessibility” that scales with the number of users and allows users to start their own blockchains. TIA is trading at $4.84 at the time of writing and has a market cap of $1.02 billion.
Burniske’s comment reflects a strong belief in Celestia’s future. The ecosystem’s strong fundamentals and long-term vision can help overcome short-term market concerns.
Overall, Burniske’s confidence in Celestia is based on the project’s core values and long-term potential. Investors can look past concerns surrounding the upcoming unlock and evaluate the opportunities Celestia presents.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
