Celestia has emerged as a notable phenomenon in the cryptocurrency world since its launch on October 31, 2023.
Its native token, TIA, has seen astonishing growth, climbing over 650% from its initial value of $2.03 to reach $16.28 today, according to official data from CoinMarketCap.
TIA’s impressive price rise has been in line with Celestia’s growing on-chain activity.
Since its launch, the network has facilitated more than 6.6 million transactions, surpassing competitors like Cosmos in terms of transactional activity.
Despite recent fluctuations in social volume and development activity, data indicates a rebound at the start of 2024, signaling continued interest in this blockchain.
Optimism around TIA linked to Celestia mainnet beta launch
This launch is expected to usher in a new era in modular blockchains.
Its innovative approach to “data availability” provides a scalable solution for blockchains by separating the application and consensus layers, allowing independent transactions and data validation.
The TIA token has gained traction thanks to the growing demand generated by its attractive staking incentives in the Cosmos and Osmosis ecosystem.
Additionally, the prospect of future token airdrops by projects associated with Celestia has boosted demand for the token, mirroring similar scenarios on Solana with Jito and Marinade DeFi in December 2023.
Despite a recent decline in its price, possibly influenced by overall bearish market sentiment and profit-taking, technical analysis suggests possible support in the $11.18 to $12.91 range, an area that has served as a rebound platform for TIA on previous occasions.
In the last 24 hours, Celestia (TIA) has seen an increase of 12%, reaching a value of $16.2 per token.
This growth adds to a positive trend over the last seven days, with an impressive increase of 30%.
Currently, Celestia’s market capitalization stands at around a total value of $2.5 billion, consolidating its position at number 36 in the ranking.
TIA’s market capitalization has grown exponentially, going from virtually non-existent to $2.5 billion today.
Although the token faces some volatility, its unique focus on data scalability and validation has sparked interest from investors and traders.
Celestia and its TIA token have burst onto the market with impressive growth, backed by its innovative approach and increasing activity on its network.
Although its price has experienced some recent correction, the potential of this project in the world of cryptocurrencies is a cause for attention for investors looking for long-term investment opportunities.
