Celestia (TIA), the ambitious modular blockchain project, has exploded in recent weeks. In this week alone, TIA has surged over 100%, and it’s up over 200% for the month. The coin now trades around the $6.7 mark as momentum builds behind Celestia’s mission.
According to crypto analyst John Galt, Celestia likely has a $100 million+ funding round in the works for the next 3 months. Galt believes Celestia will follow the model of other top layer 1s like Solana and Polygon, which raised $314 million and $450 million respectively last cycle.
In a series of posts today on X, formerly Twitter, Galt laid out the bull case for Celestia. First, Celestia Foundation currently holds $400 million in liquid TIA, giving them substantial reserves. The upcoming funding round will provide further capital to invest in and attract modular projects building on Celestia.
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Second, modular blockchains are an innovative new paradigm with huge potential. Celestia is attracting many developers to build within its ecosystem. The modular approach could be as transformative as when Ethereum pioneered smart contracts.
Third, a $100 million+ raise will establish Celestia as a top contender this cycle, much like Solana last cycle. The cash and publicity will be like a “self-fulfilling prophecy” predicts Galt.
Finally, with TIA price rising and $400 million reserves, Celestia is well-positioned for the funding round. Galt expects TIA will easily join the top 20 after the raise is announced.
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The bull market seems to be back in swing, and Celestia and its modular architecture is perfectly positioned to ride this wave. The forthcoming mega-round will give Celestia the resources needed to fully capitalize on its first-mover advantage in modular blockchains. For crypto investors, TIA remains a project to watch closely in 2023 as a potential titan of this cycle.
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