2024-1-4 16:06 |
Celestia’s TIA token has been one of the best-performing cryptocurrencies in the past few months. It jumped to a high of $14.57 on Thursday, a few points below its record high of $15.28. In all, TIA has surged by more than 500% from its lowest point in October last year.
Celestia’s price action is happening at a time when the number of transactions in its ecosystem have jumped, beating those of Cosmos. Data compiled by Mintscan shows that Celestia has handled over 6.7 million transactions in its lifetime.
Those transactions are far lower than the 52.7 million that Cosmos has handled over time. This is understandable since Cosmos was established in 2014. A closer look shows that Cosmos has handled over 2.36 million transactions in the past 30 days compared to Celestia’s 5.97 million.
Celestia transaction count
Another data shows that Cosmos Transaction Per Second (TPS) in the last 20 blocks averaged about 2.854 compared to Celestia’s 14. This is a sign that Celestia is seeing more traction among users.
This trend is likely because of the performance of Celestia’s TIA token, which has risen by over 500% from its October lows. Cosmos ATOM, on the other hand, has risen by over 20% in the same period. It has also formed a double-top pattern, pointing to more downside. In most cases, blockchain networks see more activity when their tokens is rising.
For starters, Celestia is a relatively new platform that provides modular data availability solutions. By doing that, it aims to scale a blockchain network as the number of users grow. According to its website, Celestia is now being used by the likes of Near Protocol, Arbitrum Orbit, Cartesi, and Cosmology.
The key challenge for Celestia investors is that they can expect substantial dilution in the coming years. Data by CoinGecko shows that the number of circulating supply stands at over 145 million against the maximum supply of over 1 billion.
According to TokenUnlocks, the next Celestia token unlock will happen in October when over 175 million tokens will come online. Token unlocks are seen as being highly bearish because it increases the number of tokens in circulation.
The post Celestia TIA token nears ATH as it beats Cosmos on a key metric appeared first on Invezz
Similar to Notcoin - Blum - Airdrops In 2024
Tianhe (TIA) на Currencies.ru
|
