Key Takeaways
- Celestia is a modular blockchain network that allows developers to build and maintain blockchain infrastructure.
- The market capitalisation of Celestia is $390,094,289. This earns it a 107 rank on Coingecko today.
Celestia, one of the newest entrants in the cryptocurrency world, has become the epicentre of waves disturbing the newest crypto trends. The project centred on the data availability of blockchain publicly launched its mainnet on Tuesday and has been in discussions ever since. But why the hype? The project simultaneously released its cryptocurrency called TIA during its launch. Specifically, the valuation of the newly released virtual currency is estimated at over $300 million.
Being as fresh as it is, Celestia is surrounded by questions about its origin, details, developments in the cryptocurrency world, use of tokens and more. Here, we answer all the questions surrounding the crypto.
Celestia Coin Origin
Celestia is a modular blockchain network that allows developers to build and maintain blockchain infrastructure. It can also be described as a platform that allows other blockchains to use it as a consensus and data availability layer. The project finds its origins in a 2019 research paper by Mustafa Al-Bassam.
Once Celestia’s mainnet went live on Tuesday. It brings significant changes in the industry. This is because it can separate data availability from the blockchain technology’s functions. In easier terms, mainnet employs a new form of modular architecture, improving its efficiency and scalability.
Celestia Coin: Facts To Know
Celestia Coin has been in existence since 31 October 2023. Since then, the lowest price recorded for the crypto is $2.08 (one day after its launch). On the other hand, the highest price recorded for it is $2.80 (on 02 November 2023). While the trading volume of Celestia in 24 hours stood at $266,483,292.
TIA Coin Price Chart
Coming to another important aspect, the market capitalisation of Celestia is $390,094,289. This earns it a 107 rank on Coingecko today. Those interested in trading TIA can do so on multiple platforms, including Binance, Bybit, and OKSX.
Is Celestia Coin an underdog?
Looking at the current market trends, experts have mixed opinions about the coin. A few believe that TIA is an overvalued token in a fully diluted market. Furthermore, the value of the coin will dip. One can benefit from trading the token once the buzz around the coin reduces and it attains a stable price. In conclusion, the project may be underrated but might achieve an overrated price. This will be because of the hype created around it.
Why are people discussing this Celestia coin?
The discussions surrounding the Celestial coin are because it surpassed a $370 million market cap following its launch. Adding to it, TIA had a 60 million token airdrop. This airdrop is worth $6. billion. This means a huge chunk of traders ‘free money’ earning the token a significant buzz in the crypto world. Furthermore, this airdrop skyrocketed the demand for the token. Credit to the hype, it earned the title of the most searched crypto asset on coinmarketcap.
Celestia Coin’s Future
Techopedia quotes Celestia’s representative, saying, “Mainnet launch signifies more than just Celestia going live. It’s the start of a new era. An era of verifiability where anyone can run a secure light node. An era of collaboration in which blockchains can openly build on top of each other. An era of abundant blockspace that allows any developer to deploy their own blockchain.”
The enthusiasts of the crypto community can expect multiple changes in Celestia’s system. The organisation will gradually increase its block support, aiming to achieve 1 GB block in future. It further aims to have light node network monitoring, light nodes on smartphones, and deployment of Celestia to Ethereum Mainnet, among other changes.
Celestia Coin Market Trends
Considering current market trends, technological developments, adoption and partnerships, Celestia can have a promising future. If optimistic (assuming a bullish market) TIA can potentially grow around 100-150 percent. However, in a pessimistic scenario the coin will be stabilised around $2-2.5. It is crucial to monitor the changes in the scenario, considering the market’s volatility.
Frequently Asked Questions (FAQs)
The native token of Celestia, TIA, has been officially launched. It has already become a part of the ecosystem. It can be used for multiple purposes, including gas token, payment method, and governance tools.
After its launch on mainnet, TIA (Celetia’s native token) is available on multiple centralised exchanges. To name a few, it can be traded on Binance, KuCoin, OKX and Bybit
Presently, Celestia is the only network solely focusing on data availability services. However, its main rivals, such as Avail and EigenDA, have a much-extended range of capabilities.
Source: https://coingape.com/education/what-is-a-celestia-coin/