Celestia Price Jumps 23% Despite Claims the Coin is Dead

Celestia’s (TIA) price has surged 23.6% over the past week, including a rise of more than 10% in the last 24 hours.

Data from CoinGecko reveals that on September 18, Celestia was trading at a seven-day low of $5.03, before spiking to $6.37 the following day. By September 23, the price had dipped back to $5.22, but it rebounded sharply on September 24 to reach $6.65, marking the highest price within this period.

Celestia is Still 70% Below its ATH

According to CoinGecko, TIA reached its all-time high (ATH) of $20.85 on February 10. The coin’s strong performance during winter 2024, which saw it start the year at $11.84, peaked in February before a downward trend began.

By June, the coin had dropped below $10, and on July 6, it reached a low of $4.82.

This significant drop from its ATH has led to skepticism within the crypto community, with some speculating that this might be a period of accumulation rather than a sign of weakness.

$TIA

220 day downtrend seems to be coming to an end soon

Deviation below the summer lows, could also be seen as a 3-tap

About to break the short term downtrend, after that awaits the mid term one

On the radar👀 pic.twitter.com/Q8CDlDxV9S

— Phoenix (@Phoenix_Ash3s) September 17, 2024

Celestia Raises $150M to Expand Ecosystem

The recent price surge seems to be linked to the project’s announcement that it has successfully raised an additional $100 million to support developers through the Celestia Foundation. This brings the total raised to $150 million, which will be used to grow the ecosystem.

Launched in October 2024 following an airdrop, Celestia is a relatively new player in the crypto space. The project focuses on modular blockchain architecture, aiming to tackle scalability issues, often referred to as “blockchain trilemma.”

The Celestia ecosystem includes notable projects such as Manta Network, Dymension, Osmosis, Wormhole, and others.

Explore 80+ dApps and services built in the @CelestiaOrg ecosystem$TIA pic.twitter.com/nG4rGP69AF

— Coin98 Analytics (@Coin98Analytics) December 31, 2023