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A brand-new blockchain network’s native token has skyrocketed by nearly 200% since it launched at the end of October.

Celestia (TIA) bills itself as “the first modular blockchain network.”

The project aims to allow developers to build blockchain-based applications for mass adoption.

Celestia’s native asset, TIA, is used to secure the network and as a gas token for rollups. The 59th-ranked crypto asset by market cap is trading at $6.49 at time of writing, up from its its initial $2.18 price on October 31st, when the network was successfully deployed to mainnet beta. TIA is also up more than 10% in the past 24 hours and more than 111% in the past seven days.

Venture capitalist Chris Burniske, the founder of Placeholder Capital, said in September that Celestia’s defining characteristic is “availability.”

Celestia calls modular blockchains the “new paradigm in blockchain design,” noting that they are specialized and optimized to perform specific tasks, rather than a single blockchain that’s forced to do everything.

Top global crypto exchange Binance and top US exchange Coinbase both rolled out trading services for TIA shortly after the token’s launch. Other top exchanges, including OKX, Bybit, Gate.io, KuCoin, Kraken and Crypto.com, have also listed the new asset.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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