The Celestia (TIA) cryptocurrency has seen a big value rally over the previous week, rising by 35% since July 6.
This improve positions it because the second cryptocurrency with the best weekly value improve, after Notcoin (NOT).
The worth of the asset It went from $4.8 to $6.4 within the present sessionThis may be seen within the following TradingView chart.
Celestia is now ranked sixtieth within the cryptocurrency market capitalization rating, with $1.282 billion.
It must be famous that TIA was launched available on the market in early November 2023, after its preliminary distribution by a airdropas defined by CriptoNoticias.
The rise in TIA is principally attributed to the announcement that The Celestia community can now hook up with the Ethereum mainnetfacilitating knowledge alternate and opening up new potentialities for the ecosystem.
Celestia Labs launched Blobstream in 2023, a software that permits knowledge to be despatched effectively and securely from the Celestia community to different networks.
This makes it simpler for builders Construct Excessive-Capability Purposes on Ethereum With out Troublebecause of its knowledge availability sampling (DAS) methodology.
Actually, final April, an analogous integration of Blobstream was additionally carried out with layers 2 and three constructed on the Arbitrum community and with Base, one other Ethereum-based community.
Celestia’s innovation attracts traders
The dealer and investor often called Criptopaul on the social community X has expressed sturdy optimism about the way forward for TIAHe believes Celestia’s modular know-how has the potential to revolutionize the decentralized finance (DeFi) panorama.
“I accrued a considerable amount of TIA after predicting a big drop throughout its earlier ATH and the massive hype attributable to its novel proposition on the early stage,” he explains.
The investor highlights Modular community innovation as the important thing to Celestia’s success“Modular networks are right here to remain,” he says.
“The event of those networks is in its early phases, however I’m assured that over time, person adoption and the event of latest abilities by builders will drive their progress.”
The investor believes that modular networks, reminiscent of Celestia, can remedy the issues of scalability and effectivity at the moment dealing with decentralized finance (DeFi) protocols primarily based on EVM (Ethereum Digital Machines). “We may even see a brand new period in DeFi, taking it to new ranges,” he concludes.
In all of this, it’s essential to make clear that modular cryptocurrency networks are a kind of community structure designed to enhance scalability, flexibility, and effectivity. As an alternative of getting a single blockchain that handles all features, modular networks divide these features into totally different elements or “modules” that may work together with one another.
An occasion places the highlight on Celestia
Celestia Labs, the corporate behind the event of the community, can be actively collaborating within the Modular Summit 3.0.
It is a three-day occasion that brings collectively builders and lovers from the world of modular networksand can be held in Brussels, Belgium, from 11 to 13 July 2024.
The primary goal of the occasion is to discover the way forward for modular networks and talk about how these applied sciences can revolutionize the way in which we work together with the Web.
The mix of those elements has pushed TIA’s value to a sustained rally as seen within the present session.
