Share this article
Celestia, Blockchain Data Solution, Sees TIA Token Surge as Polygon Plan Announced
The price started rising, on speculation, even before Tuesday's announcement that Polygon would allow users of its blockchain development kit to incorporate Celestia's "data availability" solution as a modular option.
Updated Mar 8, 2024, 6:34 p.m. Published Dec 12, 2023, 5:32 p.m. 1 min read
Celestia's native TIA token jumped to a record high of $12.35 on Tuesday as traders anticipated the integration of Celestia's data availability layer with Polygon's Chain Development Kit (CDK).
Polygon teased the integration on X before it was officially announced, writing "Get ready, modular community," prompting TIA to rise from $10.36 to $12.35.
Read More: Polygon Adds Data Solution Celestia as Option for New Layer-2 Developers
The TIA token is now up by more than 473% since it debuted at $2.31 six weeks ago. The asset's fully diluted value (FDV) now stands at $12.1 billion, due to just 15% of token's total supply being in circulation, according to CoinMarketCap.
A section of TIA token holders have also been speculating over whether projects integrated with Celestia will issue token airdrops, similar to how Solana's Jito and Marinade rewarded users with tokens earlier this month.
"There are a truckload of high-profile projects building atop Celestia – a good portion of them will likely airdrop to TIA stakers for mindshare & marketing purposes," the airdrop farmer CC2 Ventures wrote on X.
On-chain activity on Celestia remains muted despite the rise of TIA. There has been 872,700 transactions on the Celestia blockchain since it went live on Oct. 31, with 362,000 of those being added over the past 30-days. Its monthly rolling average is at around 12,000.
By comparison, Arbitrum, another modular blockchain, has totaled between 600,000 and 800,000 in daily transactions over the past week, according to Arbiscan.
Celestia x Polygon ZK rollups?
— NoSleepJon 💤⏩ (@nosleepjon) December 11, 2023
The cool thing w Celestia is that any of the rollup stacks like Polygon, OP, Arbitrum, can build on top and use it for data availability. And all these rollups need to pay TIA for DA.
A bet on TIA is a bet on all of these rollups. Modular Money. https://t.co/j9A9jbcVn9
More For You
Fuller allegedly diverted $6.2 million for personal use and $5.5M for Ponzi-like payments; only 3% of funds went to crypto trading.
What to know:
- Texas man Nathan Fuller allegedly raised $12.3 million from 150 investors via a false AI crypto bot scheme promising up to 100% returns.
- Fuller allegedly diverted $6.2 million for personal use and $5.5M for Ponzi-like payments; only 3% of funds went to crypto trading.
- To cover losses, Fuller used fabricated...
