2024 has started off on a positive note for the crypto market. Besides the Bitcoin ETF and the air of excitement that it has created, several altcoins are seeing positive price movement. Along with more optimism from investors, many of these projects offer new and exciting uses for crypto and blockchain. One example of this is TIA, the native token of Celestia. TIA has just crossed the $20 mark, which represents a new all-time price high and places it in the top 40 cryptos by market cap.

Celestia (TIA) on the Rise

One of the main things that TIA has going for it is being attached to a very innovative project. Celestia is the first modular blockchain network that allows users to deploy blockchain without having to code from scratch and with little expertise required. Given the popularity of blockchain as a whole, this project has been very high in demand and this has been reflected in its token price. Since October 2023, TIA has been steadily on the rise, seeing major spikes in Both December 2023 and January 2024. In this month alone, the token has seen an over 67% increase in its value and this shows no signs of stopping. This is on top of its value growing 10 times what it was during the initial airdrop.

Also notable is the way investors have been interacting with TIA as it rises in price. Over the months, the price of TIA would see minor dips followed by aggressive market corrections. Many investors adopted the strategy of trying to buy the dip and then profiting when the price went back up. This was not always successful, however. Take Bombay Trillionaire, a crypto analyst who had tried to short the TIA token but failed to do so after it experienced massive demand from investors. Even though the token has set a new price high and is looking to reach new heights, it is not certain whether or not it will see a correction Some ambitious analysts expect that TIA will get to the $24 mark at some point and this will make it an even more prominent token.

Besides being in the top 40 tokens in terms of market cap, TIA is also listed on CoinGecko’s trending tokens list. Moving forward, a lot of its growth will likely be driven not just by the speculation about its token but the underlying blockchain. The blockchain sector as a whole seems to be entering a period of growth and this will mean that Celestia will be more high in demand. Making it easier for developers to deploy blockchains with efficiency will likely keep Celestia relevant for the foreseeable future. As 2024 unravels, the market will see if TIA maintains this momentum and gets new price highs.