The recently launched modular blockchain, Celestia, has gained significant attention in the crypto community, with its native token, TIA gaining over 30% in the past 7 days.
The potential reason behind the spike in TIA price is its increased demand among stakers as several integrated projects will be reportedly releasing airdrops. Although Celestia already airdropped TIA tokens to over 580,000 users on the mainnet beta launch on October 31.
According to market data from Coinmarketcap, TIA has spiked more than 30% in the past 7 days, making it one of the top gainers in crypto assets during the week despite taking a sharp drop on January 3 along with the whole crypto market.
The network activity on Celestia has also continually increased since its launch. While achieving over 6 million monthly transactions, Celestia even surpassed its rival Cosmos, which merely had 2.4 million transactions – according to MintScan data.
With the launch, Celestia has opened a new primitive of modular blockchains. This novel blockchain network is designed to enhance scalability and improve the developer experience while providing a scalable data availability layer for other blockchain networks.
While Celestia is a new project, it is widely talked about in the crypto community, and analysts are pushing it in direct competition with Cosmos to enable an open ecosystem of blockchain networks.
Saga, a blockchain scalability protocol, shared its community airdrop announcement on January 4, which also included Celestia along with leading blockchain networks including Solana, Polygon, Avalanche, and Cosmos.
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