Celestia Price Surges Despite Market Decline
Despite experiencing a decline in value, certain alternative cryptocurrencies have exhibited a favorable trajectory within the crypto market. The Celestia price has displayed significant price movement, with the coin experiencing a growth of around 200% since its introduction.
Celestia’s Innovative Approach
After the announcement that TIA was departing from the traditional monolithic blockchain paradigm, its price saw a notable surge. Celestia moved to decoupling consensus, which keeps decentralization secure while improving scalability. This newly-launched modular blockchain represents a network that facilitates the straightforward deployment of individual blockchains with minimal overhead.
According to Coincodex, Celestia has recorded a transaction flow worth over $852 million within the past 24 hours, with its circulating supply of 141 million valued at over $835 million in the crypto market. The mechanism is expected to set a new standard in blockchain technology in the coming time.
Impressive Growth and Social Dominance
Celestia has initially exhibited a sluggish start in terms of on-chain transactions. However, this has not diminished the enthusiasm of traders, who have instigated a speculative surge in the value of its native TIA token. At the time of writing, the token is priced at $6.18, representing a remarkable 145% increase from its initial trading value of approximately $2.10, which was seen a mere two weeks ago.
Meanwhile, Celestia’s move into crypto has had a lasting effect on social dominance that goes beyond simple financial measures. Celestia has shown that it is the 66th most valuable asset by comparing its impact through posts and discussions to that of the other top 100 cryptocurrencies. This rise is due to both more developers using the platform and a generally good attitude toward it, showing how it has a big effect on the crypto community as a whole.
This rise in status was also a factor in elevating social preeminence to a record high of 2.5%. However, in the following days, market participants may need to keep an eye on the altcoin’s movement.
Featured image from Techopedia
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