Celestia (TIA) Raised $100 Million in Venture Capital

Around eleven months ago, Celestia (TIA) made its stock market debut. Anyone who bought Celestia at the time’s price of just over $2 can now look forward to a good $6 per TIA.

The Celestia Foundation announced that it had received $100 million in venture capital through a financing round for further development. Well-known investors such as Bain Capital Crypto and Syncracy Capital do not see Celestia as just any cryptocurrency, but as a project with great future prospects.

In fact, Celestia is doing something technologically innovative with its “modular blockchain network” concept. In the TIA ecosystem, projects and developers can largely decide freely which programming language and modules they want to use for smart contracts. They then dock with Celestia’s main blockchain using so-called “rollups”. Celestia already has 20 such rollups , which proves that the concept is being accepted.

Celestia now wants to use the fresh capital to increase the technological capacity of the network; 1 gigabyte of information should fit into a block in the future. By comparison, the crypto currency Bitcoin (BTC) only has 1 to 2 megabytes, which severely limits the number of transactions. Celestia now has the prospect of even exceeding the benchmark of Visa’s centralized network by far.

The credit card giant handles around 24,000 transactions per second (TPS), and Celestia wants to achieve many times that. A spokesperson for the foundation compares this to the switch in Internet connections from telephone lines to broadband to fiber optics. In short, if Celestia achieves its development goals, a multifunctional basis for all kinds of use cases will be created, in which TIA will find its place as a native means of payment for fees.

Conclusion: Celestia on the rise – pay attention to token distribution at TIA

TIA currently has a market capitalization of around 1.3 billion – but only around 20 percent of all Celestia are already in circulation. This is an important indicator for you as an investor. Data from CoinMarketCap shows that from the end of October – on Celestia’s one-year anniversary – larger stocks of TIA will be “unlocked” on a regular basis and could then come onto the markets. Price pressure for TIA is predictable here.

Celestia can therefore look forward to acceptance by external investors and projects – but whether this will have a lasting impact on the price development of TIA is another question.

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(Featured image by Giorgio Trovato via Unsplash)

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