Gonna get ripped a new one, but...
Celestia has been unfairly singled out as the scapegoat for VC negligence compared to 99.9% of projects with very similar tokenomics, charts, VC reckonings, market making games, and unlocked staking rewards.
In this case, Polychain is nuking on everyone's heads and there's nothing you can really do about it. They have destroyed the chart. Few more months until unlocks aggressively slow down and they stop dumping. Otherwise, they clearly don't care about anyone who's holding and don't want to participate in the next era of growth for the protocol.
In addition to this, the targeted hate is strong because people had very high expectations of the product adoption from pre-launch (which has been slower than they anticipated). The tech is actually a zero to one innovation on the market, yet the price action has been a major let down. Last but likely the biggest reason is that a lot of people got the airdrop, bought more, staked, and are now underwater.
When looking at the market (liquid or venture), there are dozens of tokens in an extremely similar -90%+ position yet haven't received nearly a lick of hate, which imo is because the reasons above.
Overall, there aren't many "believers" left in tokens in general, and even less for Celestia, even though tech & adoption wise its far stronger than it was at $20.
Celestia has been unfairly singled out as the scapegoat for VC negligence compared to 99.9% of projects with very similar tokenomics, charts, VC reckonings, market making games, and unlocked staking rewards.
In this case, Polychain is nuking on everyone's heads and there's nothing you can really do about it. They have destroyed the chart. Few more months until unlocks aggressively slow down and they stop dumping. Otherwise, they clearly don't care about anyone who's holding and don't want to participate in the next era of growth for the protocol.
In addition to this, the targeted hate is strong because people had very high expectations of the product adoption from pre-launch (which has been slower than they anticipated). The tech is actually a zero to one innovation on the market, yet the price action has been a major let down. Last but likely the biggest reason is that a lot of people got the airdrop, bought more, staked, and are now underwater.
When looking at the market (liquid or venture), there are dozens of tokens in an extremely similar -90%+ position yet haven't received nearly a lick of hate, which imo is because the reasons above.
Overall, there aren't many "believers" left in tokens in general, and even less for Celestia, even though tech & adoption wise its far stronger than it was at $20.
Polychain = destruction.
Any reasonable VC would agree this level of dumping is completely immoral to any team who’s trying to build a multi-decade company. Insane.
Celestia is the most polarizing token in the space rn and Polychain has played a big role in the story.
Any reasonable VC would agree this level of dumping is completely immoral to any team who’s trying to build a multi-decade company. Insane.
Celestia is the most polarizing token in the space rn and Polychain has played a big role in the story.
https://twitter.com/gtx360ti/status/1940378680720797924
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