Celestia, the first modular blockchain network, had a rough start, but this did not reduce the interest of traders, even pushed TIA price up significantly since its inception. Data from MintScan showed that Celestia processed 350,000 transactions in the first two days of launch; however, this figure dropped to only 160,000 in the following days. Compared to its rival Arbitrum, which processed an average of 550,000 to 920,000 transactions per day over the past week, the number of transactions of Celestia is really modest.
Another index that can be used to evaluate the scalability of a blockchain is TPS (transaction per second). TPS is the number of transactions that a network can process in a second. According to L2Beat, Celestia is capable of performing 0.13 TPS, while Arbitrum is 8.01 TPS.
However, Celestia is just a new project and it currently has to compete against many other projects such as NEAR, the network once joined hands with Celestia to provide data for Ethereum rollup. Furthermore, Celestia’s tokenomics is highly valued, with only 141 million tokens of the 1 billion hard cap in circulation, and the majority of the total supply locked until October 2024 and October 2026. In the past 24 hours, TIA’s trading volume has been approximately $900 million, exceeding the market cap of all tokens in circulation, according to CoinMarketCap.
TIA price gained 200% in November since its inception and has continuously set new peaks in recent times. TIA reached an all-time high of $6.54 and is trading at $6.00 on CoinMarketCap.
