Why is Celestia (TIA) Coin Pumping? Bullish Calls from Crypto Influencers Drive 50% Rally

2023-11-11 11:30

Celestia (TIA), the first modular blockchain network, has seen a strong rally over the past week. The token price has jumped from around $2.4 to a new all-time high today of around $3.76 – a gain of over 50% in less than two weeks.

The price pump seems to be driven largely by bullish commentary from crypto influencers. On November 2nd, popular crypto trader Altcoin Sherpa told his 200k Twitter followers that he believes Celestia is “going to do pretty well” and highlighted key factors like its Binance listing, low supply, and innovative modular blockchain narrative.

Since then, other influencers have chimed in with optimistic price targets. Crypto Talk wrote on CoinMarketCap that his targets are $40 – $60 by next year, comparing TIA to Solana and the original Terra Luna token which hit $90 with similar supply dynamics.

Source: CoinStats – Start using it today

The exact catalyst behind the recent rally is still unknown. Celestia’s official Twitter account has not made any major announcements in the past few days. However, the bullish sentiment from respected crypto voices seems to be fueling speculation and hype around TIA.

For those unfamiliar, Celestia is the first modular blockchain network, designed to make it easy for anyone to deploy their own blockchain while minimizing overhead. It scales by separating execution from consensus. Celestia aims to unlock new possibilities for builders by removing execution and settlement constraints imposed by conventional blockchains.

The recent price action shows the power crypto influencers wield in moving newer assets. Celestia now ranks in the top 100 coins by market cap. With growing developer adoption and influencer enthusiasm, TIA seems poised for more potential upside, though nothing is guaranteed in the volatile crypto markets.

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The post Why is Celestia (TIA) Coin Pumping? Bullish Calls from Crypto Influencers Drive 50% Rally appeared first on CaptainAltcoin.

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$ 0 (+0.00%)
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Изменеия 24h: 0.00 %, 7d: 0.00 %
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