Connect with us

Hi, what are you looking for?


Is Celestia About to Crash? TIA Price Drops 10% as Bitcoin Minetrix Surpasses $10 Million Milestone

Celestia has barely moved in the past 24 hours, with the TIA price standing at $16.66 as the wider market suffers a 1% loss.

TIA remains up by 8% in a week and by 23% in a month, with the layer-one token down by 17% since hitting an all-time high of $20.16 a couple of weeks ago.

The coin has seesawed since reaching this record high, struggling to set a new peak as the cryptocurrency market experiences similar indecisiveness.

Now, traders are wondering whether a move to the downside is coming.

Yet, as uncertain as it has been in recent weeks, there are other promising coins to diversify into, with new stake-to-mine platform Bitcoin Minetrix raising more than $10 million in its presale.

Is Celestia About to Crash? TIA Price Drops 10%

TIA’s chart is in a largely bearish position right now, with its indicators suggesting that further falls could be coming in the near term.

Most notably, it looks like its current price could be about to drop below its 30-day moving average (yellow), a move that can undermine market confidence.

Source: TradingView

At the same time, TIA’s relative strength index (purple) has been hovering around the 50 mark for nearly two weeks now, underlining how it’s struggling to regain clear momentum.

The coin’s trading volume also highlights its struggles, given that it has fallen from $850 million in early January to $200 million today.

This indicates a loss of market interest in the token, which rallied strongly between mid-November and mid-January on the basis of new exchange listings.

New Perpetual Alert $TIA/USDT perpetual swap trading up to 50x is LIVE.

Trade now:

Also available:
Margin trading
Simple Earn

— OKX (@okx) October 31, 2023

Now, it seems that the dust has settled a little, with holders taking profits over the past couple of weeks.

What will push the TIA price in the medium- and long-term is the growth of its native platform, Celestia.

This is a new ‘modular’ blockchain, designed to scale in proportion to the number of users on its network.

Its technology sounds promising, but it remains very young and has so far attracted no major adoption or use, despite launching its mainnet in late October.

For instance, it doesn’t currently have any entry on DefiLlama, suggesting no or very little total value locked in.

For this reason, its price could be relatively quiet for the next few months, failing to return to previous heights until it racks up some real-world usage.

Bitcoin Minetrix Surpasses $10 Million Milestone

The cryptocurrency market is currently spoilt for promising new projects, with Celestia being one of the latest.

And it isn’t the only one, with several exciting new altcoins currently holding their presales and gaining momentum as they prepare to list.

The best example of this is Bitcoin Minetrix (BTCMTX), an Ethereum-based stake-to-mine platform that has raised over $10 million in its heavily subscribed token offering.

Big Announcement! #BitcoinMinetrix has hit a phenomenal milestone, raising over $10,000,000!

— Bitcoinminetrix (@bitcoinminetrix) January 31, 2024

The reason why investors are going for Bitcoin Minetrix in a big way is that its platform is promising to overhaul Bitcoin mining for the better.

That is, its platform will enable users to mine Bitcoin (BTC) by staking its native token, BTCMTX.

That’s all users have to do, with staking earning tokenized mining credits, which they can then spend on purchasing Bitcoin hashing power.

As a result, they will receive a share in mined BTC, while they’ll also gain staking rewards in the form of freshly issued BTCMTX.

It therefore promises to be a highly lucrative platform, and when coupled with its ease of use, it should attract plenty of users.

Embarking on an exciting journey into cloud mining with #BTCMTX!

Users gather staking credits, monitoring their mining capabilities.#Ethereum network’s smart contracts guarantee seamless, decentralized distributions, ensuring a secure and dependable mining experience.

— Bitcoinminetrix (@bitcoinminetrix) January 30, 2024

BTCMTX is currently selling at $0.0132 per token, with investors able to join by going to the official Bitcoin Minetrix website.

All they have to do is connect their software wallets and buy the desired amount of BTCMTX, with nothing else to do after that except to wait for the coin to list.

Visit Bitcoin Minetrix Now

The post Is Celestia About to Crash? TIA Price Drops 10% as Bitcoin Minetrix Surpasses $10 Million Milestone appeared first on Cryptonews.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



United States Senator Elizabeth Warren has emphasized the need for a legal “level playing field” in the cryptocurrency industry and has called for restrictions...


On Wednesday, Bitcoin price is showing signs of a significant uptrend, currently trading around the $57,200 mark with a notable increase of over 1.25%....


Kraken has unveiled a new division dedicated to providing services to institutional clients as it seeks to gain a foothold in the Bitcoin exchange-traded...


The Internal Revenue Service (IRS) said on Tuesday that it hired two crypto industry executives to aid in digital asset reporting, compliance, and enforcement...


RSRV, a hotel ownership marketplace co-founded by Aspen-based entrepreneur Stephane De Baets, is partnering with the Tezos blockchain to tokenize a part of the...


Polygon-backed Humanity Protocol has secured strategic investments from over 20 crypto venture capital firms for its privacy-centric Web3 identity solution. Hashed, CMCC, Cypher Capital,...

You May Also Like

Financial Advisors


Financial Advisors


Financial Advisors

The humongous outbreak of the dreaded coronavirus has brought about a groundbreaking change in what the world perceived as ‘normal’. With an estimated 280,391,189...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Respect Investment. All Rights Reserved.