Celestia, Blockchain Data Solution, Sees TIA Token Surge as Polygon Plan Announced

The price started rising, on speculation, even before Tuesday's announcement that Polygon would allow users of its blockchain development kit to incorporate Celestia's "data availability" solution as a modular option.

AccessTimeIconDec 12, 2023 at 5:32 p.m. UTC
Updated Mar 8, 2024 at 6:34 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Celestia's native TIA token jumped to a record high of $12.35 on Tuesday as traders anticipated the integration of Celestia's data availability layer with Polygon's Chain Development Kit (CDK).

Polygon teased the integration on X before it was officially announced, writing "Get ready, modular community," prompting TIA to rise from $10.36 to $12.35.

  • What South Korea's Latest Election Means for Crypto Adoption in the Country
    00:38
    What South Korea's Latest Election Means for Crypto Adoption in the Country
  • Hong Kong Approving an Ether ETF Could Be a 'Surprise,' Analyst Says
    00:52
    Hong Kong Approving an Ether ETF Could Be a 'Surprise,' Analyst Says
  • What South Korea's Elections Mean for Crypto; The Potential for Spot BTC and ETH ETFs in Hong Kong
    19:02
    What South Korea's Elections Mean for Crypto; The Potential for Spot BTC and ETH ETFs in Hong Kong
  • Would You Get Paid in Crypto?
    00:57
    Would You Get Paid in Crypto?
  • The TIA token is now up by more than 473% since it debuted at $2.31 six weeks ago. The asset's fully diluted value (FDV) now stands at $12.1 billion, due to just 15% of token's total supply being in circulation, according to CoinMarketCap.

    A section of TIA token holders have also been speculating over whether projects integrated with Celestia will issue token airdrops, similar to how Solana's Jito and Marinade rewarded users with tokens earlier this month.

    "There are a truckload of high-profile projects building atop Celestia – a good portion of them will likely airdrop to TIA stakers for mindshare & marketing purposes," the airdrop farmer CC2 Ventures wrote on X.

    On-chain activity on Celestia remains muted despite the rise of TIA. There has been 872,700 transactions on the Celestia blockchain since it went live on Oct. 31, with 362,000 of those being added over the past 30-days. Its monthly rolling average is at around 12,000.

    By comparison, Arbitrum, another modular blockchain, has totaled between 600,000 and 800,000 in daily transactions over the past week, according to Arbiscan.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight

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


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.