Researcher X-explore exposes widespread manipulation in token distribution.

Sybil groups and airdrop hunters claimed over 55% of Celestia’s TIA token airdrop.

The bad actors diverted over 28.92 million TIA tokens from the airdrop with at least 106,491 wallets.

A concerning trend has been observed following the airdrop of TIA tokens that marked the mainnet beta launch of the modular blockchain Celestia. According to the findings, more than half of the recipients of Celestia’s TIA airdrops were dishonest actors, otherwise called Sybil Groups or airdrop hunters. 

In a recent report, renowned blockchain researcher X-explore disclosed that about 40% of the addresses that received the Celestia airdrop are either Sybil groups or airdrop hunters. For context, Sybil groups and airdrop hunters may be seen as entities that exploit a system by creating multiple fake identities to gain an unfair advantage.

The researcher noted that these Sybil groups are detectable when considering the flow of funds from multiple airdrop addresses into a single wallet. X-explore claimed to have distinctly tracked tokens from the 138,981 wallets participating in Celestia’s native token distribution.

According to findings, Celestia shipped 60 million TIA tokens to 191,391 wallets, with 138,981 addresses claiming them as of November 1. X-explore discovered that large-scale Sybil groups, consisting of at least 20 unique identifiers, controlled 27,090 TIA airdrop addresses. He noted that the addresses diverted 5.22 million TIA tokens from the airdrop, making up approximately 20.1% of the total distribution.

Furthermore, the report disclosed that the second category of Sybil groups similarly cornered 6.65 million TIA from 27,907 airdrop addresses, accounting for 20.7%. Meanwhile, the last set of dishonest airdrop participants controlled 51,494 addresses from the TIA airdrop. This set claimed 17.05 million TIA tokens. 

Therefore, the bad actors diverted over 28.92 million TIA tokens from the airdrop, leaving at least 106,491 wallets. In other words, Celestia distributed 55.70% of TIA tokens to dishonest Sybil and airdrop hunters.

Source: TIA Token Sybil Distriution | X-explore

Ultimately, the researcher concluded that the count of addresses receiving airdrops from Sybil groups is almost on par with that of regular users. X-explore underscored that this  dynamic presents a substantial hurdle for project owners as they endeavor to identify and filter out Sybil addresses.

The post 28.92M Celestia’s TIA Airdrop Claimed by Sybil, Airdrop Hunters appeared first on Coin Edition.

Coinspeaker Celestia’s TIA Token Gains 200% within Two Weeks after Launch

Despite a sluggish start in on-chain activity, the newly launched modular blockchain Celestia has witnessed a surge in speculative trading. The native TIA token, which debuted around $2.10 two weeks ago, has experienced a speculative rally, reaching $6.30 – an impressive 200% increase. However, it’s essential to note that TIA’s rise is not directly proportional to the increased Celestia blockchain usage.

While the Celestia blockchain facilitated 350,000 transactions in the first two days after its launch, subsequent activity has been more moderate, with an additional 160,000 transactions recorded since then, as reported by MintScan.

Just for comparison, the rival modular blockchain network Arbitrum has registered anywhere between 550,000 and 920,000 daily transactions over the last week. Celestia, a modular blockchain network, empowers users to effortlessly deploy their own blockchain with minimal overhead. Revolutionizing blockchain architecture from its core, Celestia achieves scalability by introducing a groundbreaking concept – data availability sampling – thus decoupling execution from consensus.

This minimalistic blockchain approach eliminates constraints on execution and settlement, allowing developers the freedom to define their own environments for execution and settlement. This innovative design opens up untapped possibilities for builders and developers in the blockchain space.

Celestia Demonstrates Excellent TPS

Another key metric for assessing blockchain scalability is transactions per second (TPS), and currently, Celestia registers at 0.13 TPS. In comparison, Arbitrum boasts a daily average of 8.01 TPS, according to L2Beat.

Notably, Celestia (TIA), having launched just two weeks ago, is not expected to match the adoption levels of Arbitrum, operational since May 2021. However, it now faces competition from industry heavyweights like NEAR, which has entered the race alongside Celestia to offer data availability services to Ethereum rollups.

Data availability, defined as the capability for network nodes to download, store, and make transaction information accessible for verification, has become a crucial aspect. Sean Farrell, a crypto analyst at FundStat, highlighted this in a recent note.

Despite the initial lack of immediate demand for its data availability functionality, Celestia’s tokenomics have garnered attention from traders. Only 141 million tokens out of the 1 billion hard cap are currently circulating, with the majority of the total supply locked up until October 2024 and October 2026. The trading volume for TIA stands at around $900 million over the past 24 hours.

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Celestia’s TIA Token Gains 200% within Two Weeks after Launch

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Rebel Satoshi (RBLZ) presale in progress

Celestia (TIA) rallies by 38.9% after Dark Frontier went live

Optimism (OP) surges after Halliday Smart Accounts launch

Rebel Satoshi (RBLZ) supporters expect to gain at the end of the ongoing presale. On the other hand, Celestia (TIA) prices rose after Dark Frontier launched. Optimism is also firm after Halliday deploys.

Rebel Satoshi presale ongoing

Rebel Satoshi is garnering attention for its mission and growth potential.

The project aims to challenge the current systems in the crypto space that tend to favor the elite.

At the heart of Rebel Satoshi’s growth lies its native token, RBLZ. 

RBLZ holders enjoy benefits, including staking rewards that incentivize long-term investment. Additionally, they can directly contribute to the Rebel Satoshi ecosystem and strengthen the community.

Read more: Rebel Satoshi, Celestia, and Cardano in the spotlight

Rebel Satoshi has raised over $500,000 in the ongoing RBLZ presale, selling 67% of the total token supply. 

Currently, the project is in the Warriors Round 2 presale stage, where the token is available for $0.018. Users can buy RBLZ using Bitcoin (BTC) and 50 cryptocurrencies.

On launch, supporters expect the token to change hands at $0.025.

In Rebels Round 1 stage of the RBLZ presale, allocated tokens were sold out in ten days.

TIA up 38.9% after Dark Frontier launch

The Dark Frontier game on Celestia launched on Dec. 6, 2023.

With this announcement, TIA prices rose 38.9%, rallying from $9.3259 on Dec. 6 to $12.96 on Dec. 12.

You might also like: Manta Pacific utilizes Celestia for cost-efficient Layer 2 networking

This surge in interest aligns with Celestia’s ongoing efforts to expand its network and establish new connections. 

Analysts predict that TIA will be trading at $17.03 by the end of 2024. 

Even if bears take over, the coin could settle at $13.87.

OP climbs after Halliday’s announcement

On Nov. 29, 2023, the web3 games company Halliday deployed its smart accounts on Optimism. 

The partnership gives users flexible logins and seamless gameplays. 

OP, the native token from Optimism, rose 50.1% from $1.6561 on Nov. 29 to $2.4868 by Dec. 12. 

OP prices might extend gains in 2024. 

You might also like: Optimism’s weekly trading volume soars 1687%, TVL hits $769m

Analysts predict the token will reach $3.76 by the end of 2024 if the market stays bullish. Conversely, if bears take over in 2024, OP could change hands at $3.18 by the end of 2024. 

In either case, there’s a high chance of Optimism crossing the $3 mark in 2024. 

For the latest updates and information, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

Read more: ChatGPT backs Rebel Satoshi over Litecoin and Polygon

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

On January 18, 2024, the global market cap stood at $1.62 trillion, reflecting a 3.74% decrease in the past day. While the overall market volume has surged by 6.22% to $59.7 billion, the decentralized finance (DeFi) sector contributes significantly, boasting a total volume of $5.03 billion, constituting 8.42% of the entire crypto market’s 24-hour volume. Stablecoins maintain their dominance, with a volume of $54.84 billion, commanding an impressive 91.87% share of the total crypto market volume over the last 24 hours.

Within this dynamic landscape, Bitcoin’s influence remains formidable, with its dominance standing at 49.69%, signaling a marginal increase of 0.02% within the day. As we navigate through the price analysis of individual cryptocurrencies – Bitcoin (BTC), Celestia (TIA), Shiba Inu (SHIB), VeChain (VET), and JasmyCoin (JASMY) – we intertwine the broader market dynamics, providing a comprehensive perspective for traders and investors in the ever-evolving crypto space.

Bitcoin (BTC) Price Analysis

Over the last 24 hours, Bitcoin has experienced a 4.19% decrease, with the current price at $40,844. The daily chart indicates a dip below the local support level of $41,344. If the daily bar closes significantly below this level, there is potential for further price dip leading to a test of the $40,700 area in the upcoming day.

On a larger time frame, attention is drawn to the interim level of $40,500. A dip below this level could release accumulated selling pressure, potentially resulting in a further decline to the $39,000-$40,000 zone in the near future. The short-term analysis indicates a possibility of growth towards the $41,700 area if the daily bar closes far from the local support level of $41,300.

However, the medium-term outlook suggests caution, with attention on the $41,000 interim level. A breach below this point could lead to a significant drop to the $39,000-$40,000 zone. Traders and investors should closely monitor these key support and resistance levels for a clearer understanding of Bitcoin’s price movements in the coming days and weeks.

Celestia (TIA) Price Analysis

In the last 24 hours, Celestia has witnessed a 7.72% decline, with the current price standing at $16.93. Utilizing today’s classical pivot point (P1) at $18.40, support levels for Celestia are identified at $17.66, $17.16, and the strongest at $16.42. Correspondingly, resistance levels are at $18.89, $19.63, and $20.12. This pivot point analysis provides key levels for traders to monitor in the short term.

Examining the 1-day time frame, Celestia is currently exhibiting a bearish trend, indicated by the 50-day moving average sloping upward and positioned below the current price. This moving average could act as a support in subsequent interactions with the price, reinforcing the bearish sentiment.

The Relative Strength Index (RSI) currently falls below the 60 neutral zone, signaling a neutral trend where the price could maintain this state for an extended period. However, caution is warranted as there is a bearish divergence observed in the last 14 candles. This suggests a weak signal for a potential price reversal from the current levels.

Shiba Inu (SHIB) Price Analysis

Over the last 24 hours, Shiba Inu (SHIB) has experienced a 4.97% decrease, bringing the current price to $0.00000907. Currently, SHIB is navigating within a range, with a support level at $0.00000854 and a resistance level at $0.00001055. This establishes the boundaries for short-term price movements.

The Exponential Moving Averages (EMAs) at 10, 50, and 200 days are closely clustered around $0.00000976, $0.00000967, and $0.00000897, respectively. This suggests a narrow trading range and the possibility of consolidation in the medium term. Traders should keep a close eye on these levels for potential breakout or breakdown signals.

The Relative Strength Index (RSI) at 40.42 is below the central line, indicating a bearish momentum. If Shiba Inu’s trading volume, which has recently broken out of the red territory, continues its upward trend, and the token surpasses the resistance at $0.00001055, it could signal a strong bullish momentum.

VeChain (VET) Price Analysis

Over the last 24 hours, VeChain (VET) has experienced a 5.34% decrease, bringing the current price to $0.02828. On the 1-day time frame, VeChain is exhibiting a bullish trend, as indicated by the 50-day moving average, which is sloping upward and positioned above the current VeChain price. This moving average could act as a resistance in future interactions.

VeChain’s 200-day moving average has been sloping up since December 20, 2023, indicating a strong and sustained trend. The fact that the 200-day moving average is currently below the price suggests that if the price interacts with it again, it could serve as a potential support to sustain the existing upward trend.

The bullish trend is further supported by the upward-sloping 200-day moving average, highlighting the strength of the current trend. However, it’s crucial to note that the 50-day moving average may act as a resistance in the short term.

JasmyCoin (JASMY) Price Analysis

Over the last 24 hours, JasmyCoin (JASMY) has witnessed a 6.53% decrease, bringing the current price to $0.004931. A closer look at the 1-day time frame suggests a leaning toward a bearish trajectory, indicating potential short-term challenges. Despite the immediate downturn, a beacon of optimism emerges as both the 50-day and 200-day moving averages maintain their bullish orientation.

This duality in trend indicators implies a delicate balance, hinting at a potential correction or consolidation in the immediate future. Traders are urged to approach the current short-term decline with caution, particularly considering the potential resistance posed by the 50-day moving average. This key level demands careful monitoring, as it could influence short-term price movements.

Zooming out to the broader perspective, the upward-sloping 200-day moving average unveils a narrative of resilience and sustained strength. This suggests a robust medium-term outlook for JasmyCoin, instilling confidence in the coin’s underlying market dynamics.

The weekend is ending on a slow momentum, with markets consolidating. This is seen from the global market cap, which has jumped by 0.08% from its previous 24-hour one, as the total cap stood at $1.64T as of press time. The fear and greed index is 57, as the greed index dominates.       

Bitcoin Price Analysis

Bitcoin (BTC) is showing mild recovery today as the Bitcoin price stood at $41.7K as of press time, representing a 0.7% pump in the last 24 hours to take the weekly drop to 2.4%. Bitcoin’s trading volume has dropped by 56% over the same period to stand at $9.8B.

An in-depth analysis of 24-hour BTC/USD charts reveals a bull dominance. The Relative Strength Index indicator is moving north, showing bullish momentum on BTC. The MACD indicator, on the other hand, is reverting towards the green zone, showing failed bear pressure on the Bitcoin price.

BTC 1-day chart | Source: TradingView Ethereum Price Analysis

Ethereum (ETH) has also posted minor gains today as the Ethereum price stood at $2477 as of press time, representing a 0.4% increase in the last 24 hours as the weekly drop stood at 2.4%. The trading volume has dropped by 52% to $4.6B.

An in-depth analysis of the ETH/USD charts also shows a struggle between bulls and bears for ETH markets, as shown by the Relative Strength Index indicator, which is currently on a northern trajectory, showing bull pressure on the Ethereum price. On the other hand, the MACD indicator has shifted to the red zone, showing bearish prospects for the Ethereum price as well.

ETH 1-day chart | Source: TradingView Celestia Price Analysis

Celestia (TIA) has also posted minor gains today as the Celestai price stood at $17.4 as of press time, representing a 0.9% increase in the last 24 hours as the weekly drop stood at 10.5%. The trading volume has dropped by 69% to $89M.

An in-depth analysis of the TIA/USDT charts points toward a pullback on the Celestia price, as shown by the Relative Strength Index indicator, which is currently on a southern trajectory, showing bear pressure on the Celestia price. On the other hand, the MACD indicator ismoving in the red zone, backing bearish prospects as well on the Celestia price.

TIA 1-day chart | Source: TradingView BNB Price Analysis

BNB (BNB) is another gainer today as the BNB price stood at $318 as of press time, representing a 1.4% increase in the last 24 hours to bring the weekly rise to 4.8%. The trading volume has dropped by 22% to $698M.

An in-depth analysis of the BNB/USDT charts shows that bulls control the markets. This is shown by the Relative Strength Index indicator, which is currently on a northern trajectory as it heads for the overbought region, showing bull pressure on the BNB price. On the other hand, the MACD indicator is reverting toward the green zone, backing the bullish prospects on the BNB price.

BNB 1-day chart | Source: TradingView Dogecoin Price Analysis

Dogecoin (DOGE) is our top gainer today as the Dogecoin price stood at $0.08694 as of press time, representing a 10% increase in the last 24 hours to bring the weekly rise to 4.4%. The trading volume has jumped by 254% to $1.2B.

An in-depth analysis of the DOGE/USDT charts shows that bulls control the markets. This is shown by the Relative Strength Index indicator, which is currently above 50, showing bull pressure on the BNB price as the token still has time to become overbought. On the other hand, the MACD indicator has shifted to the green zone, backing the bullish prospects on the Dogecoin price.

DOGE 1-day chart | Source: TradingView

Quick take:

Plume will use the capital to accelerate the development of its modular Layer 2 network built on Arbitrum and Celestia.

The project is currently in testnet and about to transition to the next phase.

Plume said it already has 80 RWA and DeFi projects building on its network.

Plume Network has completed a $10 million seed round round led by Haun Ventures. The fundraising also attracted participation from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures and Reciprocal Ventures.

The company is building a modular layer-2 network focused on real-world asset tokenisation. According to the announcement, Anthony Ramirez of Wormhole Labs, Calvin Liu of Eigenlayer, Ezaan “Zon” Mangalji of Initia, Andrew Kang of Mechanism, Jeff Feng and Jayendra Jog of Sei Network also joined the round as angel investors.

The Ethereum Virtual Machine (EVM)-compatible is built on Arbitrum’s Orbit network and leverages Celestia Network for data availability. 

Commenting on his company’s decision to use the two technologies for launching its EVM L2, Plume co-founder and CEO Chris Yin said: “This current stack ensures compatibility with the vast majority of protocols in the blockchain ecosystem, RWA chain-level modifications, fast transactions, and the lowest transaction fees.”

The announcement comes ahead of Plume’s transition to public testnet. The company said it already has 80 RWA and DeFi projects building on its network while in private testnet. Some of the projects include those launching digital collectibles, alternative assets, synthetics, luxury goods, real estate, borrow/lend protocols, and perpetual decentralised exchanges, the Block reported.

While some RWA tokenisation platforms have focused on tokenising securities like US treasuries, Plume wants to take the market to the next level, enabling developers to “create markets around things that are yet to exist,” Yin said.

“For example, one of our protocols lets you take out high leverage on RWAs — so you can take out a 50x leverage long on Pokemon cards. That’s not by tokenising every card, but pulling in data,” he said.

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The post Plume Network Secures $10M Seed Round for Modular RWA-Tokenisation Platform appeared first on NFTgators .

The price of Celestia (TIA) has increased 17.02% over the past 24 hours to $14.38. 

Over the past week, Celestia (TIA) has experienced an uptick of over 46.0%, moving from $9.82 to its current price. As it stands right now, the all-time high price of TIA is $14.65.

Celestia Price Chart | Source: Coinstats

 

The chart below compares the price movement and volatility for Celestia over the past 24 hours (left) to its price movement over the past week (right). 

Celestia Price and Volatility

The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. 

See Also: Kaspa (KAS) Rises More Than 5% In 24 hours

The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

Celestia Circulating Supply And Trading Volume

 

The trading volume for the coin has tumbled 9.0% over the past week while the circulating supply of the coin has risen 0.46%. 

This brings the circulating supply to 145.87 million. According to our data, the current market cap ranking for TIA is #41 at $2.11 billion.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

The post Celestia (TIA) Price Rises More Than 17% In 24 hours appeared first on BitcoinWorld.

Mike Novogratz’s crypto bank Galaxy Digital says 2024 will be a crucial year for Ethereum, as other layer-1 blockchains will raise the stakes.

Ethereum appears to be navigating uncharted waters, as the network is set to face “unprecedented challenges” in 2024 presented by alternative layer-1 networks such as Solana, Galaxy Digital writes in its “Watch This Space” report.

While the report highlights Ethereum’s commitment to supporting layer-2 networks and integrating technologies such as restaking, it acknowledges the emergence of other networks like Celestia, which promise an “unprecedented amount of flexibility” in catering to diverse user needs related to privacy, cost, security, and compliance.

“It will be important to watch heightened competition and differentiation between Solana and other modular blockchains like Ethereum and Celestia in 2024.”

Galaxy Digital

You might also like: SEC delays decision on BlackRock’s Ethereum spot ETF launch

Galaxy Digital analysts note that Ethereum’s modular architecture, particularly various rollup types, will introduce new challenges and technological risks due to their early stage of development. Singling out Solana as the most distinctive general-purpose blockchain embracing a monolithic architecture, they position it as the primary competitor against Ethereum.

The Ethereum blockchain uses validators to secure its network, but there’s a limit to how many validators can join or leave the network in each time period, called an epoch. As Ethereum has grown, the limit for validator entries and exits has also increased. Looking ahead, Galaxy says Ethereum developers may need to “weigh drastic changes” to staking dynamics and monetary policy in 2024 if the network experiences a surge in usage, resulting in increased transactions and staking demand.

Read more: Coinbase to address Ethereum client diversity woes