Chris Burniske, a venture capitalist says that the recent movements of a blockchain project are reminiscent (SOLThe upcoming 2020.
Burniske says that Celestia, a crypto analyst and partner currently at Placeholder who was previously at ARK Invest (TIABulls that are dissatisfied with TIA’s huge correction should look at Solana’s 2020 chart, back when SOL also was a new coin on the market.
Investor points out after SOL’s massive drop, it suddenly surged by 10,000%. next year.
“Seeing lots of TIA complainers after the token went ~10x in the public market in ~4 months. Most of these complainers have no clue SOL also went ~10x in 2020, then sold off 80%, then went 100x+ in 2021. If you can’t handle downside volatility, you don’t deserve the upside.”
TIA was trading for $8.27 at the time this article was written, 59% lower than its previous high.
Celestia has also scheduled a token unblocking for the 31st of October this year. This will see 17.57% supply released onto the market. It is often interpreted negatively because more assets can be purchased.
Burniske also points out that Solana underwent a major unlocking which eventually preceded the parabolic run-ups.
“Now people complaining that TIA October ’24 unlock is too big at 17.57% of total supply, while SOL unlocked ~80% of its current total supply December 2020. Few here remember much, huh?”
![Image](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1713089584_718_Could-This-Altcoin-Repeat-Solanas-100x-Rally-From-2020-Investor.png)
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