Celestia (TIA) is growing. Are the airdrops the main drivers for it?
💰TIA, the native coin of Celestia on-chain protocol, skyrocketed by 27% on January 4, hitting the ATH of $16.68.
Since its listing in November, Celestia (TIA) has been indicating bullish sentiment for most of the period. However, its latest pump still wasn't within a traditional flow. What boosted TIA so high then?
There are two reasons for this:
👉TIA remains an attractive risk-reward crypto: The great performance of it, and the credibility of the project make TIA look like a safe investment from the point of tokenomics. Such utility altcoins (like WBT, ARB, etc) catch the attention of users also due to the "Ethereum-killer" rally – the prevailing tendency for coining and investing in modular blockchain that are analogues to Ethereum.
👉Airdrops: The airdrops conducted by Saga and Dymension for TIA stakers are expected to boost demand, as buyers seek to acquire and stake TIA in anticipation of future airdrops. Furthermore, Saga revealed that over 27,000 wallets that staked more than 23 TIA in January 2023 are eligible for the $SAGA airdrop.
And what are your outlooks for TIA? Drop me your opinion in the comments👇
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