The Celestia coin TIA has turned all eyes in the crypto industry to itself after its price went up 50% in a week. After witnessing a massive price spike in the second week of January, the upward movement of the TIA coin slowed down, dropping by 2.43% in the last 24 hours. However, investors are confident that the Celestia coin will hit $50 this year.

The uniqueness of the project combined with the increasing staking activity have resulted in this price surge. Despite being a new project in the crypto industry, Celestia is slowly climbing the ladder to become one of the top cryptocurrencies. Let us analyze whether the Celestia coin regains its price rise and reaches new all-time highs or drops in the following months.

About Celestia

The Celestia crypto project has been in discussions ever since Mustafa Al-Bassam released its whitepaper in 2019. It finally took shape when its mainnet was launched in October, 2023. Even though the project is still in budding stages, it has already garnered massive support from the investors and developers.

Celestia is a modular blockchain network that aims to provide blockchain infrastructure for developers to build projects. The project is nothing less than a revolution in the industry because it enables developers to build other projects by separating data availability from blockchain. This method not only improves the efficiency of a network but also maintains scalability to serve an increasing number of users.

Market Performance of Celestia’s TIA Coin

Celestia Price Chart

The Celestia price is trading at around $18 as of January 17, 2024, recording weekly gains of 23% and monthly gains of 45% with an overall growth since the launch of 788%.

The native cryptocurrency of Celestia, TIA token, started trading on October 31, 2023, with a starting price of around $2. After trading sideways for the first week, TIA’s price rose to over $7 on November 19, 2023. Even though the TIA token’s price was reduced multiple times later, it is going on an upward trend on an overall basis.

Joining several cryptocurrencies that rose in value at the beginning of December, 2023, Celestia’s price has also increased, crossing the $14 mark. This price rise amounted to over 200% growth in just one month. Listing of TIA coins on major exchange platforms like Binance, Coinbase, OKX, Bybit, and others have also contributed to this massive growth.

Since the new year began, the price of the Celestia coin has been skyrocketing continuously. The massive surge in staking of TIA coins on the blockchain combined with the creation of new wallet addresses have accelerated the price of TIA coins. Its price surge resulted in a new all-time high value of TIA token when its price briefly crossed the $20 mark.

Will Celestia Hit $50 in 2024?

After witnessing a huge price surge since its launch, the Celestia price is seeing a price correction at the time of writing. Despite this short term price drop, crypto investors and analysts believe that the project has good future growth potential.

I can scratch a lot of shitcoin narratives away

The modular one, is slightly more difficult to ignore

I’m not sure about the the token but Celestia, to me seems like a game changer regarding development

— Romano (@RNR_0) January 12, 2024

Crypto analyst Romano stated on X, saying that he is not sure about Celestia token, but its underlying project seems to be a game changer in terms of development of the crypto industry.

The Celestia project has strong fundamentals when it comes to the efficiency and scalability of its blockchain. It is even addressing the issues faced by major blockchain networks like Bitcoin, Ethereum, and Solana. Adding to these factors, the investors sentiment in the project is increasing with its recent price surges.

It is not a question of if but when the Celestia coin will reach the $50 mark in 2024. All things considered, the Celestia token seems to hit the $50 in a few more months if the current price rally and investor interest continues.

Even though the project is currently facing price correction due the massive price spike, its price will definitely go on an uptrend after the price correction ends.

The post Celestia Price: Will Celestia Hit $50 in 2024? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am