Celestia Price Surges 14% After $100 Million Funding: Will TIA Hit $10 Next?

The price of Celestia’s native token, TIA, surged by 14% within the last 24 hours following the announcement of a $100 million raise by the Celestia Foundation. This funding aims to advance the project’s roadmap, particularly in blockchain scalability. Investors are now eyeing a potential price increase to $10 as market momentum builds.

Key Takeaways

• $100 Million Raised for Scalability: Celestia Foundation has raised $100 million to enhance blockchain scalability, bringing the total project funding to $155 million.
• TIA Price Surge: TIA price rose by 14% after the fundraising announcement, with a 34% increase over the last seven days, recovering from previous losses.
• Roadmap for Growth: Celestia’s technical roadmap focuses on scaling blockspace with 1-gigabyte blocks, positioning the network as a major player in blockchain scalability.

Celestia Foundation Raises $100 Million to Scale Blockchain

On September 23, the Celestia Foundation announced that it had successfully raised $100 million in a fundraising round aimed at advancing blockchain scalability. The raise included contributions from industry leaders such as Bain Capital Crypto, Robot Ventures, Placeholder, and Syncracy Capital, bringing the total funds raised for the project to $155 million.

Celestia aims to revolutionize blockchain scalability, moving beyond traditional monolithic Layer 1 solutions. Instead, Celestia allows developers to avoid being restricted to a single roll-up or smart contract language, opening the door to more flexible and scalable applications.

Celestia’s Vision: Scaling to 1-Gigabyte Blocks

Celestia’s core developers have outlined an ambitious technical roadmap, with the key objective of scaling to 1-gigabyte blocks. This would drastically increase data throughput for the Celestia rollup ecosystem. The project aspires to deliver blockchain performance capable of handling the equivalent of multiple Visa networks in parallel—surpassing traditional transaction throughput rates.

Celestia’s first major mainnet upgrade, Lemongrass, was a catalyst for the token’s price surge earlier in the year. The update introduced cross-chain features and streamlined interaction with the ecosystem, further highlighting the project’s commitment to scalability.

TIA Price Jumps 14% as Bulls Target $10

TIA, the native token of the Celestia network, saw a 14% price increase in the last 24 hours following the announcement of the $100 million raise. This spike reflects growing investor confidence, with many predicting a potential rise to $10 in the near future. Over the past week, TIA’s price has increased by 34%, recovering losses from earlier bearish trends.

The wider crypto market has also experienced positive sentiment, with Bitcoin holding above $63K, contributing to TIA’s bullish momentum. Celestia Foundation Chairman Mustafa Al-Bassam emphasized the project’s potential: “When Celestia launched as the first modular data availability layer, it scaled blockspace from the dial-up era to the broadband era. Now, we are pushing towards the fiber optic era.”

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FAQs

What is Celestia’s goal with the $100 million funding?

Celestia plans to use the $100 million to enhance blockchain scalability, particularly by scaling blockspace to 1-gigabyte blocks, which will significantly increase the network’s data throughput and utility.

Why is TIA’s price rising?

TIA’s price has surged by 14% following the announcement of the $100 million fundraising, as investors anticipate significant growth in Celestia’s scalability and future roadmap milestones.

Could TIA reach $10?

With the recent positive momentum, including a 34% rise in the past week, market analysts suggest TIA could potentially hit $10 if the broader crypto market and Celestia’s development continue on an upward trajectory.