The Celestia crypto platform has become one of 2023 most-anticipated releases, and its native TIA token has performed well since its October launch. With more and more TIA released onto the market every day, though, it might be that the crypto could lose some of its gains.
Celestia did not immediately respond to a request for comment.
On February 5, 2024, Celestia was worth about $13.50.
But what is Celestia (TIA)? How does Celestia work? Let’s see what we can find out, and also take a look at some of the Celestia Price Predictions that were being made as of February 5, 2024.
Let’s examine some of the Celestia price predictions being made on January 4 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex had a short-term Celestia price prediction that said the token would drop to $11.91 on January 9 before recovering somewhat to reach $12.58 on February 3. The site’s technical analysis was bullish, with 14 indicators sending upbeat signals and just one making a bearish ones.
Moving on, DigitalCoinPrice said that Celestia would be worth $33.05 next year. Bitnation’s Celestia price forecast had it reach $47.14 then. PricePrediction.net said TIA would trade at $28.57 in 2025.
Looking at a more long-term Celestia price prediction, DigitalCoinPrice said that the token would trade at $101.27 in 2030. Bitnation thought it would reach $114.49 that year. PricePrediction.net’s TIA price prediction said it would be worth $192.32 at the start of the next decade.
Google’s BardAI platform gave the following prediction for Celestia. As ever, remember that price predictions are very often wrong, and that artificial intelligence should not be fully trusted.
It added: “These are just possible scenarios, and the actual price of TIA could go much higher or lower than predicted. It’s crucial to do your own research and consider your risk tolerance before making any investment decisions.”
In mid-December, Celesita announced an integration with the Manta Network layer 2 scaling solution. Meanwhile, the platform now works with the Arbitrum (ARB) layer 2.
Now, let’s examine the, admittedly brief, Celestia price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Celestia price prediction.
Celestia first came onto the open market on October 31 2023, when it was worth $2.10. The price hovered around that level for the first 10 days or so of trading. On November 10, the token entered a bullish phase, peaking at $7.38 on November 18. Since then, the price of TIA has dropped, with the crypto market shaken by the news that American officials had issued the Binance crypto exchange with a record fine. By November 27, Celestia was worth $5.30.
The token shot up in December, reaching an all-time high of $15.14 on December 24 and closing the year at $11.86. By January 4, it was worth about $13.75.
At that time, there were 155 million TIA in circulation out of a total supply of just over one billion. This gave the token a market cap of about $2.1 billion, making it the 42nd-largest crypto by that metric.
It is hard to say at this early stage. The idea behind Celestia is an interesting one, and it has won some pretty influential support in the run-up to its launch. However, the way that Celestia is releasing TIA on a regular basis could end up making the token underperform. We also will need to see how the crypto market responds to its latest crisis.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in TIA.
No one can really tell right now. While the Celestia crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in Celestia, you will have to do your own research, not only on TIA, but on other, related, coins and tokens such as Optimism (OP). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
University College London (UCL) computer science PhD student Mustafa Al-Bassam founded Celestia and serves as its CEO?
|Supply and Distribution
|Circulating supply (as of February 5, 2024)
|155,070,925 (15.29% of total supply)
In its technical documentation, or whitepaper , Celestia says its LazyLedger ledger is designed to make things quicker.
It says: “As the core function of the consensus system of a distributed ledger is to order transactions and ensure their availability, consensus participants do not necessarily need to be concerned with the contents of those transactions. This reduces the problem of block verification to data availability verification, which can be achieved probabilistically with sub-linear complexity, without downloading the whole block. The amount of resources required to reach consensus can thus be minimized, as transaction validity rules can be decoupled from consensus rules.”
The Celestia platform helps people build their own blockchains. It does so by using a modular way of blockchain creation. In other words, rather than having one single, monolithic, blockchain, it allows people to create the parts of the blockchain that they need. Different blockchains created with Celestia perform separate functions which, at least in theory, means that they can carry out their functions quicker.
It uses a program called LazyLedger to help it do this.
Celestia is based on the Cosmos (ATOM) blockchain, and is powered by the TIA token.
Celestia’s chains are called sovereign roll-ups. According to Celestia, they “are convenient to launch like layer 2s with the added sovereignty that layer 1s enjoy”.
The TIA token pays for transactions on the network, with holders having the right to vote on changes to Celestia. People can also buy, sell and trade it on exchanges.
Because, at the moment, Celestia is based on the Cosmos blockchain, it is a token, rather than a coin. You might see references to such things as a Celestia coin price prediction, but these are, technically speaking, wrong.
Here is a chart for Celestia’s Google search volume for the past 90 days. This represents how many times the term “Celestia” has been Googled over the previous 90 days.
On February 5, 2024, there were 155 million TIA in circulation out of a total supply of just over one billion.
It could do, but not for a while. Both PricePrediction.net and Bitnation think it can get there in 2029. DigitalCoinPrice says it will reach three figures in 2030.
Keep in mind that TIA has never traded at $100.
TIA token holders can vote on changes to the Celestia network. People can also buy, sell, and trade it on exchanges.
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.