Celestia's TIA Token Trades at $3.15 on Futures Market Ahead of Airdrop

The token is set to be listed on Oct. 31 by Binance, Bybit and Kucoin.

AccessTimeIconOct 30, 2023 at 2:41 p.m. UTC
Updated Oct 31, 2023 at 3:30 p.m. UTC
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TIA, the native token of modular blockchain network Celestia, is trading at $3.15 on decentralized derivatives exchange Helix ahead of the mainnet launch later this week.

Binance has set a tentative listing date of Oct. 31 at 16:00 UTC for TIA, which is expected to be airdropped to around 600,000 wallets. Kucoin and Bybit said the token will be available to trade at 14:00 UTC.

Celestia's native token will have a total supply of 1 billion, putting its fully diluted value at $3.1 billion based on the futures price. The network said it plans to airdrop 60 million tokens to early adopters, although it is unclear how much of the remaining total supply will be circulating on release.

Liquidity for TIA is thin on Helix with daily trade volume equating to around $3,000.

Celestia raised $55 million in October last year in a combined Series A and B round led by venture capital firms Bain Capital Crypto and Polychain Capital.

Described as a modular data availability network, Celestia aims to become a platform that will allow others to build their own blockchains.

Edited by Sheldon Reback.

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Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.


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