Celestia (TIA) Leads The Crypto Market Recovery, Suggesting A Possible Continuation Of Its Bullish Momentum

TIA, the native token of modular blockchain Celestia, has seen a 7.3% surge in the past week.

Celestia’s (TIA) native token has surged over 15% in the past 24 hours, outperforming the broader crypto market and emerging as the biggest gainer among the top 100 cryptocurrencies by market capitalization.

The token, which powers the modular blockchain Celestia, began the week trading at around $4.9. However, a buying surge on Friday morning saw TIA shoot up 14% in an hour, rising from the $4.9 zone to the $5.6 resistance level. After retracing slightly, the token continued to trade above the $5 mark, showing a 16.3% gain in the past 24 hours.

Celestia (TIA) Surges 7.3%, Outperforming Top 100 Cryptos This Week. Celestia’s Native Token Displayed a 15% Surge in 24 Hours, Leading the Top 100 Cryptos in Gains This Week. Image Sourced from Visual Capitalist.

Celestia has been on a downtrend since hitting its March all-time high (ATH), suffering a brutal 80% correction from $20 to $4 in the past six months. September’s retrace dragged TIA below the $4 mark, registering its lowest price since early November 2023.

But the token’s Q3 retraces didn’t deter many investors, who considered Celestia’s on-chain developments a potential bullish sign. Since then, the cryptocurrency has seen a 40.1% monthly increase, fueling the bullish sentiment.

Celestia’s modular blockchain is designed to handle computation-heavy tasks, enabling other blockchains to focus on transactions. This architecture aims to enhance scalability and reduce network congestion.

Modular blockchains have gained attention in 2023, with several projects like Celestia, Polygon (MATIC), and Gnosis Chain (GNO) aiming to solve the blockchain trilemma—a trade-off between decentralization, security, and scalability.

Modular blockchains like Celestia are often modular in design, with computation, data availability, and consensus layers operating independently. This modularity allows developers to customize and optimize each layer for specific use cases.

Celestia’s modularity is centered around its data availability layer, which ensures the network’s nodes can efficiently store and retrieve transaction data. This layer is designed to be interoperable with other modular blockchains, enabling them to access Celestia’s data availability services.

Celestia’s native token, TIA, serves several functions within the Celestia ecosystem, including network governance, transaction fee payments, and staking rewards. Holders of TIA can participate in the network’s governance by proposing and voting on changes to Celestia’s protocol.

TIA is also used to pay transaction fees on the Celestia network, ensuring the network’s smooth operation and preventing spam transactions. Additionally, TIA can be staked to support the network’s security and earn rewards for participation.

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