TIA opened with ice and fire: Prices were lower than expected, South Korea opened with a surge

南枳

Odaily资深作者

2023-11-01 05:35

This article is about 764 words, reading the full article takes about 2 minutes

Everyone came together and the contract opened instantly, but it still failed to ignite market enthusiasm.

AI Summary

Expand

Everyone came together and the contract opened instantly, but it still failed to ignite market enthusiasm.

Original - Odaily

Author - Nan Zhi

As the largest airdrop project in recent times, Celestia (TIA) has attracted much attention from the market. Before its launch, the generally highest expected price in the market reached 4-5 USDT, and the over-the-counter OTC transaction price also reached around 3 USDT. Yesterday, major exchanges including Binance and OKX announced the launch of TIA trading.

Two Heavens of Ice and Fire

Airdrop started

September 27, modular blockchain networkCelestia launches genesis airdrop of its native token TIA, the total airdrop amount is up to 60 million.

October 18,Celestia genesis airdrop officially ended, about 2/3 of the qualified addresses have not applied for it, the unclaimed airdrops were distributed to the addresses that had been claimed, and the amount of airdrops per address increased more than twice.

Then, some decentralized exchanges such asHelix, Aevo, etc. launched TIA futures,TIA futures on Aevo once reached 3.316 USDT。

Before going online

Celestia has updated the pre-genesis file, and the mainnet will be launched at 22:00 on October 31 (UTC+ 8)。

And yesterday, includingBinance、OKX、Bithumb 、Bybit、KuCoinA series of exchanges have announced the launch of TIA transactions.

Price not as good as expected

Yesterday at 22:00,Celestia completes mainnet beta deployment, 23 oclockTIA opens trading on some CEX, the price on KuCoin was 2.38 USDT and the price on MEXC was 2.35 USDT when Odaily reported.

And pressOdaily’s previous calculations used circulating market capitalization as the benchmark.：

The TIA price compared to Aptos is 4.57 USDT;
The benchmark Arbitrum is 4.04 USDT;
The benchmark Optimism is 3.93 USDT;
The benchmark Sui is 1.36 USDT.

TIA’s transaction price was significantly lower than several mainstream benchmark prices and only higher than the Sui benchmark price. If calculated based on the OTC price of 3 USDT, OTC traders begin to make substantial losses.

At 0:00 today, Binance launched TIA spot trading. Its 1-minute K-line is as shown below. It opened as high as 2.999 USDT and then fell to 1.9 USDT in 1 minute. Compared with other exchanges, the price dropped further.

Korean market remains enthusiastic

At 23:35 yesterday, the Korean exchange Bithumb opened TIA trading. The opening price of the exchange was 3,299 won (approximately 2.43 USDT), and in the second minute of trading, it rose to a maximum of 27,070 won (approximately 19.94 USDT). Compared with The aforementioned KuCoin 2.38 USDT price has a premium of 737% and has maintained a 100% premium for more than half an hour. The 1-minute K-line is as shown below:

Although Binance immediately announced that it would launch contract trading 9 minutes after the spot went online, it still failed to boost market confidence. After excluding the highest opening price, the highest price so far is 2.5 USDT, and it is currently trading at 2.25 USDT. The price on Bithumb is now 3,150 won (approximately 2.32 USDT), and the premium has shrunk significantly.