$TIA In four days, it climbed from 0.50 to 0.77. Celestia collected just over a hundred dollars in fees across the entire network in a day. By DefiLlama’s figures, even on October 16, the most bullish day, it was only $158; the total for the past 30 days was under $3,000.
Eden made TIA the gas token for its AI agent chain. The pitch is that agents will issue tokens and pay for inference using TIA. But its first experiment, Botfun, is still in closed testing. On-chain revenue hasn’t budged, while the price has already priced in the expectations.
Three days ago, on the day Eden launched, I wrote about it at 0.697: if it closed above 0.71, I’d be wrong; otherwise, I expected a retest of 0.63. It’s now at 0.615. The 0.63 level has broken, and it has never closed above 0.71. More than two million U in long positions were liquidated. Open interest in futures is down about 20% from its peak, and leverage is unwinding faster than the price is falling.
For the narrative to turn into fundamentals, we first need to see fee figures climb. Until then, 0.71 remains the dividing line: if it closes back above that level, it means the market isn’t waiting for usage to materialize, and I was wrong. If it can’t reclaim it, this is still just a story that hasn’t come to fruition.
#TIA #Celestia
Eden made TIA the gas token for its AI agent chain. The pitch is that agents will issue tokens and pay for inference using TIA. But its first experiment, Botfun, is still in closed testing. On-chain revenue hasn’t budged, while the price has already priced in the expectations.
Three days ago, on the day Eden launched, I wrote about it at 0.697: if it closed above 0.71, I’d be wrong; otherwise, I expected a retest of 0.63. It’s now at 0.615. The 0.63 level has broken, and it has never closed above 0.71. More than two million U in long positions were liquidated. Open interest in futures is down about 20% from its peak, and leverage is unwinding faster than the price is falling.
For the narrative to turn into fundamentals, we first need to see fee figures climb. Until then, 0.71 remains the dividing line: if it closes back above that level, it means the market isn’t waiting for usage to materialize, and I was wrong. If it can’t reclaim it, this is still just a story that hasn’t come to fruition.
#TIA #Celestia