Celestia Token Soars, Benefiting Initial Backers - Latest cryptocurrency news

Celestia Token Soars, Benefiting Initial Backers

The Celestia (TIA) token has recently made headlines with a significant price surge, rewarding its early investors handsomely. The token saw an increase of more than 6%, continuing a trend of profitability for its holders. A deeper examination reveals the extent of earnings accrued by those who were among the initial backers of Celestia.

Early Investors Reap Major Rewards

The seed round backers of Celestia were joined by a broader base of retail investors, resulting in a substantial shift in the token’s performance. With a modest beginning, raising $1.5 million, Celestia quickly captured attention by delivering an extraordinary return of 1887-fold within 2.5 years. Those who participated in the TIA airdrop in November 2023, simply by holding a minimum amount of Cosmos (ATOM) or Osmosis (OSMO) tokens, found themselves at the center of a lucrative strike in the crypto industry.

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The small risk taken by these individuals to partake in the project turned into four-figure airdrop rewards. Original airdrop recipients who got $2000 in TIA are now looking at its value skyrocketing to around $16,000, suggesting the potential for infinite return on investment. This remarkable increase continues to enhance the value of these individual investors’ holdings on a daily basis.

Celestia’s Market Presence Strengthens

On the trading front, Celestia has seen a daily uptick of over 6%, hitting one of its highest price points of the day. Specifically, on February 5, 2024, TIA’s price ascended by 7.86% to $18.17. The network boasts a substantial market capitalization of $2.94 billion, with its 24-hour trading volume witnessing a 28.82% jump, reaching $145.49 million.

Amidst this rally, Celestia touched a peak of $18.23 after rebounding from $16.85. Despite these gains, TIA remains roughly 10% below its peak price of $20.36. In the derivatives market, the token has seen significant liquidations, with $538,000 worth of TIA, about 82% of total liquidations due to short sales, observed in the last 24 hours.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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