The creation of the Celestia blockchain was significant, which might have gone unnoticed. However, crypto enthusiasts have been keen to watch the phenomenal price growth since its commencement.
TIA, the native token of the network, grew massively, scratching the surface of the $20 threshold in its short lifespan and turning lots of investors’ heads.
Celestia is a new blockchain created in October 2023 as the first modular blockchain network, allowing other projects to build on its robust environment easily.
TIA is the native token of Celestia and the central payment method for the network.
The innovative technology the network has introduced received contradictory opinions, as some investors doubled down on their investments in Celestia while others were waiting for the breakdown.
In an attempt to increase users’ interest in the new blockchain, the TIA network airdropped more than 500,000 users, creating more hype for this project and improving Celestia’s tokenomics.
Celestia introduced a breakthrough in blockchain technology as the first “modular” chain. This concept allows any network to launch its blockchain with low financial and development requirements.
This outstanding blockchain architecture signifies core functionalities while leaving other tasks to other chain layers. Thus, it relies on sampling data availability with minimum restrictions.
Therefore, companies can customize their own blockchain features, execution and settlement features and streamline, as opposed to classic blockchain ecosystems that require using unified procedures and executions.
This significant technological advancement marks Celestia’s biggest unique point of sale and the reason many users believe in the future of this network.
When Celestia blockchain was introduced, TIA pricing performance was stagnating at around $2. However, it took only ten days for the token price to double and triple its value.
Two months after its launch, and towards the end of 2023, TIA price went up to $12, closing the year at $10 increase, or a whopping 500% growth in a couple of months.
Despite not making the headlines like Bitcoin ETF news, for example, the token was quickly listed on various exchanges. Bitget was among the first platforms to include TIA in their offerings, followed by Binance, one of the world’s most famous crypto exchanges.
In fact, Binance holds the largest amount of TIA contracts compared to other platforms, with $85 worth of the token out of a total of $214.
The token kept its upward momentum throughout 2024, with many reasons that caused this price surge. Let’s check them out.
Let’s take a look at the TIA price performance in a detailed manner by analyzing its market movement across different timelines.
We use the exponential moving average indicator combined with 10, 50, and 100 days to compare long-term and short-term price action.
We start with analyzing long-term movement by comparing the 10-day and 100-day lines. By doing so, we notice how the blue (10-day) line moves up and away from the purple (100-day) line during December 2023 before coming closer and actually moving under the 100-day line by the end of the year.
However, the 10-day EMA line crosses the 100-day EMA line and moves upwards strongly, picking up the price by 33% in the first week of January 2024.
Later on, the price keeps surging to cross the $20 mark on January 15th, with a tight close-up with the purple line, indicating a possible price dip.
However, we expand on our predictions with another analysis by comparing the 10-day line with the 50-day line, which has more weight to the price trend, giving a more predictable picture.
We see how the price trend (in blue) crosses over and under the 50-day line multiple times in 2023. Furthermore, in 2024, the 10-day trend line expands and contracts closer to the 50-day trend line, indicating that TIA might be overbought and a price correction may be imminent.
TIA token has gone through an outstanding surge, taking the token price from $2 to $20 in three months and being named as one of the best altcoins for the next bull run. However, our Celestia crypto price prediction shows that this short-term run might cool down for the foreseeable future.This does not mean that TIA is not one of the top altcoins and is in the discussion of which crypto has 1000x potential. However, this may take more time until Celestia proves its worth and earns investors’s confidence in the long term.