Celestia's Sentiment Sours Ahead of Token Unlock Event

Celestia's price action has been impacted by an upcoming token unlock event, which is set to add to the circulating supply on March 29th. According to DeFiLlama, the unlock represents just 0.032% of the current circulating supply, valued at approximately $85,000.

The allocation from this unlock is expected to go toward research and development as well as core contributors within the ecosystem, indicating a utility-driven distribution. However, market reactions to unlocks tend to reflect sentiment rather than fundamentals, and with broader conditions already leaning bearish, the additional supply could reinforce downside pressure.