Celestia’s Token TIA Soars on Futures Market Before Launching Its Modular Blockchain Platform

Celestia is the first modular data availability network

TIA, the token of Celestia, a new blockchain network that allows users to create their own custom chains, is trading at a high price ahead of its official launch. The token is currently available on Helix, a decentralized exchange for derivatives, where it has a price of $3.15. This implies a market value of $3.1 billion for the entire supply of 1 billion tokens. However, the trading volume is very low, with only $3,000 worth of transactions per day.

Celestia is expected to go live later today, and its token will be distributed to about 600,000 wallets that participated in its early adoption program. The network will airdrop 60 million tokens, or 6% of the total supply, to these wallets. The rest of the supply will be allocated to various stakeholders, such as the team, investors, and validators. It is not clear how much of the supply will be in circulation at the time of launch.

Several major cryptocurrency exchanges have announced their plans to list TIA on Oct. 31. Binance, the largest exchange by volume, will open trading for TIA at 16:00 UTC. Kucoin and Bybit will follow suit at 14:00 UTC. These listings will likely increase the liquidity and visibility of TIA in the market.

Celestia raised $55 million in October last year from prominent venture capital firms such as Bain Capital Crypto and Polychain Capital. The network aims to provide a scalable and secure data availability layer for other blockchains. By using a novel design called modular consensus, Celestia enables developers to choose their own consensus mechanisms and state machines, while relying on Celestia for data storage and verification.