Celestia has been a big hit, taking the Cosmos eco-system along with the rest of crypto by storm. It's token was launched not too long ago, via an airdrop with a very short claim window (one week). Many missed out, but those that didn't had their allocations scaled up with all the unclaimed amounts. Since the airdrop, it has been pretty much up only for $TIA.
A few stats for Celestia, all sourced from Coingecko
- $TIA price: $18.33
- Market Cap: $2.87 Billion
- Market Cap rank: 35
- FDV: $18.63 Billion
When it launched, a little over 2 months ago, the token stated trading at just over $2. In fact it's All-Time Low was $2.08 on Oct 31 last year. Since then, it has been a fairly steady climb, up to today's ATH of $18.70, and current price of $18.33 at the time of this post being written.
So, what does Celestia do?
The first modular blockchain network
Celestia is a modular data availability network that securely scales with the number of users, making it easy for anyone to launch their own blockchain.
source: Celestia website
Reading through about Celestia, there is a lot of terms like "Modular", "Data availability network", "Blobs", "Rollups", and so on. To be completely honest, I don't really get it. "Making is easy for anyone to launch their own blockchain" I do understand.
However, what is fairly crystal clear is the main narrative that is driving Celestia to be a highly sought after token, that could quickly grow past ATOM in Market Cap at its current rate.
What is the narrative driving $TIA so much?
The Cosmos eco-system loves an airdrop, and ever since the Osmosis launch of $OSMO, dropped to ATOM holders, many projects have launched via targeted airdrops. Celestia itself ran an airdrop, and I think a lot of people are currently chasing the next big airdrop magnet. Right now it looks like Celestia may become one of the biggest airdrop beneficiaries in the space.
Confirmed so far is the Dymension $DYM drop. If you have not seen my post about it, go now and check it out. This one is urgent, and not just for $TIA holders, so go check if you are eligible. There is only a week to go to get your registration in, unless you are in the USA, then you can't have it. (not sure how well it is VPN blocked??).
Anyway, $DYM looks like it could be big itself, and it has its own narrative with airdrops coming to its holders. An airdropped token that qualifies you for another airdropped token, that then qualifies you for more airdrops - sounds like fun.
There are many other projects that will likely drop to $TIA stakers. Beyond just staking $TIA, participating in test-nets, and joining campaigns can boost your potential airdrops. Suffice to say, having some TIA in self custody, staked to a non-exchange validator (preferably outside the top 20) will likely qualify you for a bunch of different airdrops through 2024.
I could dive more into specific protocols and so on, but that's not really the purpose of this post. Check the eco-system page on the Celestia website to see some of the projects that may airdrop.
So there you have it, a perspective on why Celestia is doing so well lately (since its launch really). As for me, well I do have a small stake remaining, after having sold a decent portion of my initial airdrop of $TIA. I wish I had held on to more, but it should be enough to qualify for some of these airdrops in the pipeline. I'm getting $DYM, and will stake a decent chunk of that ASAP. May sell a bit to top up some more TIA, as well as take a little profit.
Are you holding and staking $TIA?
Which airdrops are you looking forward to?
Thanks for reading, I'd love to here any thoughts in the comment section below.
Cheers,
JK.