Celestia is hoping to revolutionise the crypto industry with its new modular approach to blockchains. This method was designed to allow developers to launch a blockchain with very little friction.
It’s mainnet and native token $TIA have only just launched. But are already seeing positive reactions from the community. TIA is up 9% since its launch and is ranked 103 out of all cryptocurrencies by market capitalisation.
Despite the fact TIA is still establishing itself, various Celestia crypto price predictions have a bullish outlook for the token.
What is Celestia?
Celestia is a new blockchain hoping to innovate the cryptocurrency industry with its approach to scaling and securing Web3 applications. The project is the first decentralised modular blockchain, a fresh take on blockchain architecture designed to tackle the scaling challenges that have plagued the “monolithic” blockchains like Ethereum and Solana.
Unlike these big names that often grapple with the trade-off between scaling and either decentralisation or security, Celestia stands out with its modular blockchain.
The team behind Celestia explained in a blog post: “Modular blockchains are designed to solve scalability issues by using specific channels for speed and execution, unlike monolithic blockchains, which can scale only at the expense of decentralization or security.”
The main purpose of Celestia is to allow anyone to create their own blockchains, while also bringing them together in one conjoined “modular” network.
Celestia has introduced data availability sampling (DAS) technique to enable this. It is employed to authenticate data on the blockchain and enhances data transfer rates.
Decentralised applications (dApps) have already taken to Celestia to build their projects. These include crypto gaming projects, wallets, and decentralised finance (DeFi) protocols.
But, as with all new technologies, there can be teething issues. The team cautioned: “Remember that Celestia Mainnet Beta is early and experimental. It introduces ambitious new technologies, and that means uncharted territory. Expect occasional instability or reduced performance at times.”
What is the TIA cryptocurrency?
At the heart of Celestia is its native asset TIA.
Celestia envisions a future where rolling out a blockchain is as straightforward as deploying a smart contract. It argues that there is no longer a need for developers to issue a token to kickstart their blockchain.
Much like how ETH functions on the Ethereum blockchain, developers can use TIA both as a gas token and currency.
TIA can also be used for staking. Built on the Cosmos SDK, Celestia employs a proof-of-stake mechanism to ensure its consensus remains secure. Any user can contribute to the network’s security by delegating their TIA to a Celestia validator, earning a slice of their validator’s staking rewards in the process.
Celestia mainnet and token launch
The end of October saw Celestia rolling out its mainnet beta, dubbed Lemon Mint, and unveiling its TIA token to the public.
The team stated that the mainnet launch is the dawn of a new “era of verifiability where anyone can run a secure light node. An era of collaboration in which blockchains can openly build on top of each other. An era of abundant blockspace that allows any developer to deploy their own blockchain”.
With the launch, 580,000 users received Celestia’s native $TIA token. Analyst Sean Farrell of FundStrat noted: “Based on current market prices, the Celestia airdrop is estimated to distribute about $120 million in on-chain value, targeting users in the Cosmos (ATOM) and Ethereum (ETH) layer 2 ecosystems.”
He added: “This could either stimulate on-chain activity or flow into related assets, benefitting asset prices.”
This airdrop accompanied the launch on major exchanges, including Binance, KuCoin and Bybit.
TIA’s short price history
Having only just launched, TIA does not have a lengthy price history to back up its name and is still establishing itself in the crypto market.
It went live on 31 October at $2.13 and is currently up 9% from that launch price. As of 1 November, TIA was trading at $2.29.
Despite this short history, it has already made significant inroads into the crypto industry. With a market capitalisation of $322m, it is ranked 103 out of all cryptocurrencies, according to CoinMarketCap.
Celestia price prediction
As the cryptocurrency has just launched, there are only a few sources making Celestia TIA price predictions.
CoinCodex is one of them and has given the newly released crypto a “bullish” rating. The Celestia price prediction for 2023 said it will fall to $2.20 in five days time. However, the TIA coin price prediction suggested it would climb to $2.30 in a month.
BeInCrypto also anticipated TIA to hit $2.30 this year. The site’s Celestia price prediction for 2024 expected it to reach $2.53 and hit $2.78 the following year. By 2026, it gave a TIA token price prediction of $3.06.
DigitalCoinPrice is even more bullish with its Celestia crypto price prediction. It anticipated an average price of $4.21 this year and $5.67 in 2024. Its Celestia price prediction for 2025 gave a maximum price of $8.04.
Looking even further ahead, the site’s Celestia price prediction for 2030 anticipated an average price of $23.41.
Should I invest in Celestia?
It depends. TIA crypto price predictions are fairly positive with CoinCodex describing it as a “bullish” investment and DigitalCoinPrice anticipating new all-time highs. However, the cryptocurrency market is known for its volatility and you should never invest more than you can afford to lose.
Is Celestia a good investment?
Celestia is a modular blockchain hoping to make waves in the industry. However, it has only just launched its TIA token and mainnet. Investors should be cautious and always conduct thorough due diligence.
Disclaimer: The information provided in this article is for informational and educational purposes only and should not be construed as financial advice. CoinNews and its authors are not financial advisors or experts. We recommend that you consult a professional financial advisor or conduct thorough research before making any investment decisions. Cryptocurrency investments carry a high degree of risk, and you should only invest an amount you are willing to lose. The opinions expressed in this article are those of the author and do not necessarily reflect the views of CoinNews or its affiliates.