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Co-founder of Celestia Mustafa Al-Bassam claimed that the team remains committed and financially equipped for a storm, despite the escalation of accusations of misconduct, dedicated profit and distrust in the community.
“Despite FUD (which is more ridiculous daily), all founders of Celestia, exciting employees and main engineers are still here and work as hard as we do when Celestia started 5 years ago,” Al-Bassam he wrote In Monday’s post on X.
Al-Bassam claimed that the main token drawing was a normal part of the industry. He added that Celestia (Tia) has a strong long -term viability and quotes “$ 100 million+ war chest and 6 -year track”.
Comments follow growing criticism from tokens and independent scientists who claim that the Celestia team and initiates have interpreted a large number of TIA tokens because retail investors carried the onslaught of 95% token.
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Dedicated profit and misconduct
Post Al-Bassam probably came in response to a scary fiber by anthropologist Startup. The postwho attracted more than 200,000 views was accused by the Celestia team of coordinated financial misconduct.
“All C-Suite unlocked at the beginning of October 24 … Mustafa sold 25m+ V OTC, moved to Dubai,” he said. The fiber further claimed that significant data have been paid to promote TIA token Employees quietly interpreted Holdings.
Another X Shreetbuck user criticized the timing of unlocking. “They rewarded their early investors and at the expense of retail, then crying on the timeline by” ridiculous FUD “when the token decreases by 98%.”
Criticism has also focused Celestia’s Token Unlock your schedule. “Why do you unlock the token that lasts 3/4 years?” he asked Another user x. “I believe in $ eth and little else … but I don’t believe in those who unlock all their offer in 3 years.”
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Market strategy Celesties under control
Criticism of Celesty is not new. In May Investor Larry Sukernik described Celestia as a warning story in an attempt to trace the harsh power market through narration and marketing. He argued that Appchains and Vertical Integration would only succeed with faithful user bases, which Celestia may miss on a scale.
“The problem was that there are not enough applications with PMF.” [product-market fit] which are motivated to vertically integration, ”wrote Sukernik and pointed to the wrong timing in Celestio market.
At that time, Al-Bassam replied by saying that Celestia was launched before they became central to blockchain scaling, and therefore the team could not expect that the “robe of industrial complex” was growing so large.
He advocated the relevance of the AS project Associated in Celesty quoted more than 30 summary sums and claimed to control approximately 50% of the data availability market (DA). “Basically we are basically the default solution for Alt-Da these days,” he wrote.
Nevertheless, the Supernik asked whether Celestia jumped into the DA space, due to the still emerging demand from the summary. He noted that while Celestia has a market share, he does not have to be reflected in real economic traction.
At the time of publication, Celestia’s Tia is traded for $ 1.61, which is 14% per day. Token, however, fell by more than 92% compared to a historically maximum of $ 20.91, registered in June last year.
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