Cryptocurrency As the market approaches the end of August on a negative note, the altcoin sector has also suffered serious losses during this period. Altcoins such as TIA in particular have suffered major losses due to market corrections in recent weeks. The cryptocurrency TIA fell by 23% last week, and the decline was notable as one of the biggest losses in the market.
Celestia On-Chain Continues Its Growth
Despite the losses, Celestia’s on-chain growth gained significant momentum in August. How these developments will affect TIA’s value in the long term is on investors’ agenda. CelestiaIn the studies conducted on the Modular ecosystem in which , it is observed that the platform has taken important steps in the sector and increased its market share significantly. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
According to the official blog post of OurNetwork, despite the chain sharding issue of the Modular sector, more than 80 teams continue to work to improve the on-chain experience across different protocols and chains. Celestia data It is the leader in the industry with a 44% market share among accessibility providers. This is due to the platform’s success in providing data validation infrastructure to EVM Blockchains without downloading entire blocks.
Growth Continues Since May
Since May, Celestia has continued to increase its market share, challenging Ethereum’s leadership in data availability. However, TIAWhether or not TIA can surpass Ethereum in the long term will depend on investor confidence. TIA’s price is currently trading at $4.5.
In the short term, there is a possibility that TIA may break the $4.6 resistance level, but there is a high probability that this breakout will be rejected as the market sentiment is still bearish. The RSI indicator is showing a slight decrease in bullish momentum, but a reversal may occur in the coming days as market volatility decreases. BitcoinIf the price returns to $60,000 in the long term, there is a possibility that TIA will retest $5.
Despite the recent declines in the cryptocurrency market and TIA’s poor performance, Celestia’s on-chain developments could provide a potential long-term recovery for TIA, but market conditions and investor sentiment will determine the timing of this recovery.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
