Celestia’s value jumped 8%, surpassing $18. Meanwhile, there were notable short liquidations for TIA in the past 4 hours. Additionally, retail investors in Celestia outpaced returns from seed round stakeholders.
Celestia (TIA), the native cryptocurrency of the Celestia Network, has made significant gains, surging nearly 8% today and boosting investors’ profits. Let’s see who benefited the most from Celestia’s surge.
Retail Investors Outshine Celestia Seed Round
In a surprising turn of events, retail investors have outpaced Celestia’s seed round investors. Initially, venture capitalists boasted a remarkable 1887x return within just 2.5 years after a total funding of $1.5 million. However, recipients of the TIA airdrop in November 2023 have emerged as the true financial superstars.
Retail investors had the chance to participate in the Celestia airdrop by staking minimal amounts, starting as low as $75 in Cosmos (ATOM) or Osmosis (OSMO) tokens. Consequently, these investors received four-figure airdrop rewards with minimal risk. Presently, the value of their initial $2000 TIA airdrop has soared to an astonishing $16,000.
This exponential surge not only signifies a remarkable return on investment but an infinite one. Additionally, the recent Celestia price surge further adds to the overall returns for these retail investors. It’s noteworthy that they made ‘zero’ investments and acquired unprecedented profits while retaining their staked ATOM and OSMO tokens.
Celestia’s Rally and Market Performance
Price Surge and Market Cap: Celestia witnessed a robust rally of about 8% in today’s trading session, reaching new highs. As of the latest update, the TIA price surged by 7.86% to $18.17 on Monday, February 5, 2024. Celestia also boasted a market cap of $2.94 billion, showcasing its growing prominence in the market. Furthermore, the 24-hour trade volume for TIA spiked by 28.82% to $145.49 million.
Price Movement and Short Liquidations: During the rally, Celestia crypto reached a high of $18.23 after rebounding from a low of $16.85. While the crypto is nearing its all-time high of $20.36, it is still trading 10% lower. However, significant short liquidations were observed for Celestia recently, with over $538,000 worth of TIA liquidated in the past 24 hours, constituting nearly 82% of total liquidations. Additionally, major short liquidations were registered for the 4-hour timestamp, with over $210,000 shorts liquidated, as per Coinglass stats.
Analyst Outlook and Potential Breakout: Crypto analyst Deftsuo provided an optimistic outlook for Celestia, highlighting that the Celestia price is approaching the $19 resistance in a daily ascending triangle pattern. This sets the stage for a potential breakout above $20, which could trigger a strong rally. Deftsuo’s projections suggest an implied measured move target ranging from $24 to $26. However, investors are cautioned to exercise prudence, as the setup is invalidated with daily acceptance below the last daily higher-low around $16.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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