Celestia’s TIA Airdrop Hype Fades Amid User Struggles

A new modular blockchain, Celestia, faces a slow start in its first week, with only 350,000 transactions registered and a low transaction rate of 0.19 TPS, in contrast to Ethereum’s 29.33 TPS and Arbitrum’s 35-45 TPS. 

Despite having 580,000 eligible users,  only 190,000 claimed Celestia’s airdrops, leaving $1 million unclaimed value. The token currently trades at $2.33 with a $329 million market cap. 

Daily trading volume reached $475 million on Wednesday but has since dropped to around $170 million. Celestia’s focus on data availability and modular blockchain design aims to scale the crypto ecosystem. 

Celestia’s initial challenges underscore the competitive nature of the blockchain space, but its innovative design and generous staking rewards show promise for long-term growth.

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2023-11-03 21:40