Modular blockchain Celestia has posted amazing growth since its launch on Oct. 31, 2023, when TIA tokens were airdropped to 580,000 users and the mainnet went live. Since launching, TIA has risen more than 460% from its debut price of $2.10 to the current value of $13.
The altcoin had a slow start in terms of on-chain activity, initially facilitating only 510,000 transactions in the first two days, according to data from MintScan.
However, as traders’ appetite grew, TIA price followed and ultimately, on-chain activity grew as well. MintScan data shows that the network has so far facilitated 6,649,287 transactions since its debut on Oct. 31, 2023.
Celestia Blockchain Transactions Summary. Source: MintScan
By comparison, rival blockchain Cosmos has averaged between 2.3 million transactions over the past 30 days against Celestia’s 5.9 million, MintScan data shows.
Celestia’s activity grew 85% within just two weeks, according to data from Santiment. Despite the decrease in social volume and development activity over the last few weeks, these metrics have started picking up in 2024 according to data from Santiment, an on-chain analytics firm.
Celestia’s development activity and social volume. Source: Santiment
TIA’s price grew in tandem with the on-chain activity. As the users interacted with the blockchain, demand for TIA grew resulting in price growth. The demand for TIA also grew from the need to earn big staking incentives in the Cosmos Ecosystem and Osmosis. In addition, staking TIA comes with the hope that projects integrated with Celestia will issue token airdrops, similar to how Solana’s Jito and Marinade DeFi protocols rewarded users with tokens in December 2023.
TIA price was $13 on Jan. 3, after a 42% gain made in 30 days and an impressive 481% increase in value over the previous 90-day period.
Its market cap skyrocketed in just 15 days, from a near non-existent to a remarkable $885 million on Nov.15, 2023. TIA’s market capitalization currently stands at $1.9 billion, according to data from CoinMarketCap.
Celestia’s market capitalization Source: CoinMarketCap
The growth of TIA’s value is believed…
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