The native token of the modular blockchain network Celestia (TIA) surged by 13% in the last 24 hours, currently trading at $10.30 with a market cap of $1.92 billion. This increase in price is driven by heightened discussions on social media platforms like X and Reddit.
Launched on October 31, 2023, Celestia stands out by using data availability sampling (DAS) instead of traditional consensus execution, which aids in scaling and removes settlement constraints. The token’s trading volume rose by 107% to $140 million, and its open interest increased by 12%, indicating potential high price volatility.
Despite a 52% decline from its all-time high of $20.91 on February 10, the current surge in social activity and positive funding rates suggest traders are optimistic about further gains. This momentum highlights Celestia’s potential for long-term growth and its unique approach to blockchain scalability.
