Celestia Strikes: How This Lesser-Known Coin Went Berserk With 126% Price Explosion

Christian Encila

Last Updated: November 14, 2023 4:00 pm

3 mins read

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Celestia (TIA) has hit an all-time high, making waves in the world of cryptocurrency. It’s the first-ever modular blockchain network, which basically means it’s a new kind of technology that’s changing how blockchains are created and used.

At the time of writing, TIA was trading at $5.25, and registering an impressive 126% increase in the last seven days, data from Coingecko shows. However, the token sustained a 12.7% loss in the last 24 hours.

Celestia’s unique method separates different parts of the blockchain process, making it easier to set up individual blockchains. This innovation has pushed Celestia to the forefront of the evolving world of blockchain technology.

With a market cap exceeding $691 million, Celestia has quickly become one of the fastest-growing blockchains. The network, backed by OKX, recently launched its mainnet and issued an airdrop to over 190,000 people, despite having 610k eligible recipients.

The price of Celestia TIA had a significant decline during the past two days, dropping from its top of $6 on Monday to a low of $4.21. However, the price rebounded on Tuesday morning. The current value of the token is nearing the significant halfway point to $5.50.

According to Santiment’s data, the trading volume of TIA has demonstrated positive advancements from November 11th. As of the current moment, the trading volume stands at $751.37 million. This was a level of value that had not been approached since its initial introduction.

Source: Santiment

A significant level of trading volume serves as an indicator of heightened liquidity allocation towards a token, along with a corresponding level of market interest.

When examining the impact on price, an upward trend in volume, coupled with a concurrent rise in price, has the potential to reinforce the direction of price movement.

TIAUSD trading at $5.16 on the 24-hour chart at TradingView.com

On the flip side, Celestia’s online buzz has decreased significantly, dropping by 55.5% in the last day, according to data from Santiment. Despite this decline in social media chatter on platforms like Twitter, Telegram, and Reddit, Celestia remains prominently featured on CoinMarketCap.

Source: Santiment

This drop in social volume comes after the platform launched its mainnet on October 31, distributing TIA tokens to 580,000 eligible users through an airdrop.

The TIA token has grown remarkably, rising by 154% from its starting price of roughly $2.1, or 135% over the last week, despite a decline in online discussions.

The asset’s listing on Binance has added to its momentum, showcasing promising solutions for scalability that competitors like Ethereum (ETH) and Solana (SOL) have struggled to deliver to their users.

Taking a conservative approach, it is possible that TIA may reach approximately $11 by the end of the year. This scenario postulates that the ongoing upward trend will soon come to an end, leading to a subsequent phase of correction.

In an ideal scenario, a regression towards the $3.40 region might establish the foundation for a more significant upward movement, potentially attaining a value of $10 during the third wave and beyond $11 subsequent to a consolidation in the fourth wave.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from NASA

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.