What are the latest crypto news regarding Celestia (TIA), Cosmos (ATOM) and Uniswap (UNI) coins?
Below is an overview of the news and an analysis of the current and future prices.
Celestia: the launch of the main network and the launch of the TIA token
Celestia’s TIA token was officially launched today with its listing on various exchanges. In addition, an airdrop of 60 million TIA tokens is planned for active users on Ethereum Layer 2 and the Cosmos Hub.
Celestia’s modular design and consensus mechanisms make this launch an exceptional event in the crypto landscape. In other words, the launch of Celestia’s mainnet promises an explosion of activity in the blockchain world.
Moreover, the news marks a significant milestone in the development of the project and opens up new opportunities for users and investors.
Central exchange platforms, including KuCoin and Bybit, have officially announced their plans to begin trading Celestia’s native token, TIA, on the same day as the mainnet launch.
The main trading pairs will include the USDT stablecoin, giving users an easy way to access TIA tokens. In addition, Binance has confirmed its intention to list TIA, with a tentative launch date.
One of the most interesting elements of Celestia’s mainnet launch is its generous airdrop programme. It is also important to note that the snapshot for this launch was taken on 1 January 2023.
The airdrop represents 6% of the total TIA token supply, which is a valuable opportunity for those who have been active participants in the blockchain ecosystem.
42.7 million NTRN tokens transferred from Neutron DAO to Cosmos Hub: approval and implications
On 30 October, Cosmos Hub formalised the approval of proposal number 835 to transfer 42.7 million tokens from Neutron DAO to the Cosmos Hub community pool.
The aforementioned proposal was given the green light to authorise the transfer of 42,727,950 NTRN consisting of unclaimed airdrop tokens.
Following the approval, Cosmos (ATOM) confirmed that the proposal to transfer over 42.7 million unclaimed airdrop tokens from the CosmWasm Neutron (NTRN) platform had been validated.
The purpose of governance proposal number 835 was to grant the Neutron DAO permission to transfer the 42,727,950 unclaimed NTRNs to the Cosmos Hub community pool.
In addition, on 30 October, Cosmos Hub announced that the governance vote had been successful and that the 42.7 million NTRNs, valued at approximately $18 million at the time of the proposal, would now be transferred to the community pool.
Proposition 835 included specific guidelines outlining the relevant rules for the transfer and the use of these funds within the Cosmos ecosystem.
The approval and subsequent transfer by the Neutron DAO was conditional on the Cosmos community adopting policies that would not harm Neutron as a result of the use of these funds.
The importance of mutual benefit was also highlighted, ensuring that the Cosmos network, its governance and community will use the funds in accordance with the rules to ensure long-term benefits for both the Cosmos Hub ecosystem and Neutron.
On 10 October, Binance also added NTRN to its Launchpool as the 38th token. The twenty-day offer allowed users to stake NTRN tokens using their BNBs or TUSD and FDUSD stablecoins.
Some thoughts on Uniswap performance: comparison with the crypto Celestia and ATOM
Recently, analyst Ali on X outlined the potential readiness of Uniswap (UNI) for a price breakout using various on-chain indicators. He also examined possible UNI developments based on certain parameters.
One of the key parameters identified was the number of addresses holding their tokens with a net unrealised loss.
Typically, a high number of investors with a net unrealised loss can lead to a selling bias as holders are inclined to cash in their gains.
Conversely, a high number of holders with losses may indicate little selling pressure in the market.
Given the current large number of loss-making Uniswap addresses, the selling pressure may already be exhausted. Consequently, it seems unlikely that the asset will decline, at least in the short term.
While the market is currently mainly at a loss, Ali has noticed an increase in the number of large UNI transactions. These ‘large transactions’ refer to transfers of $100,000 or more.
Given that only whales and institutions are able to make such large movements in a single transaction, this increase may provide an indication of the current activity of these large holders.
The fact that these investors have recently increased the number of such transfers suggests an interest in the asset at its current price. The analyst explains:
“They may be interested in investing or positioning themselves before a possible Uniswap breakout.”
Ali also points to the presence of a strong wall of support for UNI’s current price, according to on-chain analysis. Support and resistance levels are defined by the number of addresses or investors who have bought at certain levels.
The analysis shows that the area just below UNI’s current prices is populated by holders, suggesting that the asset could face buying pressure on a retest:
“Even though Uniswap has consolidated crucial support at $4, there are two significant hurdles to overcome to signal a bullish breakout. One is at $2, where 4.23 addresses have purchased 7 million UNIs, and the other is at $14.24, where 4.45 addresses contain 2 million UNIs.”