Celestia (TIA) has achieved a significant milestone with the successful launch of its mainnet. This development has generated considerable interest as the project gears up for token releases and listings on several exchanges, including KuCoin, Bybit, and Binance.
Exchange Listings and Deposit Openings
KuCoin took the lead by opening the TIA deposit portal at 09:00 PM on October 31, 2023 (Vietnam time) and promptly listed the TIA/USDT trading pair. Bybit swiftly followed by opening TIA deposits, marking the initial token issuance. Binance joined the fray, listing TIA under Seed Tag at 11:00 PM on the same day. While there hasn’t been an official announcement regarding the mainnet release date, information on the project’s GitHub indicated a deadline of October 31, which a Celestia contributor confirmed to The Block.
The project Github reflects the mainnet deadline of October 31, 2023
Active OTC Trading and Price Movements
Ahead of the mainnet launch, Celestia allocated 60 million tokens (6% of the supply) for airdrops to active users on Layer-2 Ethereum, stakers on Cosmos Hub, Osmosis, and engaged developers.
TIA price is traded OTC on Helix exchange, screenshot at 08:40 AM on October 31, 2023
The project had been taking snapshots throughout the year. TIA is now actively traded on OTC markets, experiencing price fluctuations, with instances of nearing $4 USD on the Helix derivatives exchange, settling around $2.7 USD. Daily trading volume hovers around $3,000 USD.
The Celestia Difference
In contrast to conventional layer-1 monolithic blockchains like Ethereum and Solana, Celestia has adopted a modular network approach, aiming to address the inherent challenges of blockchain deployment and scalability. The platform’s separation of execution from consensus simplifies the creation of new blockchains, fostering innovation.
In October 2022, Celestia Labs successfully raised $55 million at a valuation surpassing $1 billion, with leading contributions from Bain Capital and Polychain in this funding round. Celestia’s unique approach and substantial backing have positioned it as a key player in the blockchain industry.
