CELESTIA DOWN BECAUSE OF UNREALISTIC EXPECTATIONS

Summary from the TLDR Crypto newsletter

Markets price tokens not just on utility or promise, but on the gap between story and execution. Celestia, while building real infrastructure, launched with high narrative expectations that are outpacing visible traction, creating “narrative bleed.” In contrast, Hyperliquid's underpromise-overdeliver approach has kept its narrative aligned with progress. Token launches effectively borrow against future execution and if that debt compounds unaddressed, the market punishes the lag.