Celestia (TIA), the Celestia Network’s native crypto, has sent shockwaves through the digital currency space with its gigantic gains. The Celestia price gained nearly 8% today, further escalating the profits of its investors. Hence, let’s take a look at who led Celestia‘s profit parade and bagged the jackpot.
Who Profited The Most From Celestia’s Rally?
Celestia’s seed round investors found themselves eclipsed by an unexpected group, which is the retail investors. The spotlight initially shone on venture capitalists boasting a remarkable 1887x return in a mere 2.5 years after total funding of $1.5 million. However, the recipients of the TIA airdrop in November 2023, have emerged as the true financial superstars.
Retail investors could participate in the Celestia airdrop by staking minimal amounts of as low as $75 in Cosmos (ATOM) or Osmosis (OSMO) tokens. Thereafter, these investors received 4-figure airdrop rewards with minimal risk. Fast forward to the present, and the value of their initial $2000 TIA airdrop has skyrocketed to an astonishing $16,000.
This exponential surge translates not just into a remarkable return on investment but an infinite one. Moreover, the recent Celestia price surge adds to the overall returns for these retail investors. Moreover, it is important to note that they literally made ‘zero’ investments and acquired unprecedented profits while also holding on to their staked ATOM and OSMO tokens.
Also Read: Celestia Network’s TIA Price Up 50% In A Week, What’s Behind the Rally?
Celestia Price Surges 8% Today
Celestia rallied about 8% and registered new highs in today’s trading session. As of writing, the TIA price soared 7.86% to $18.17 on Monday, February 5, 2024. Whilst, Celestia held a market cap of $2.94 billion. Moreover, the 24-hour trade volume for TIA spiked 28.82% to $145.49 million.
The Celestia crypto achieved a high of $18.23 amid the rally after bouncing back from a low of $16.85. The crypto is nearing its all-time high of $20.36 while still trading 10% lower. On the other hand, significant short liquidations were recorded for Celestia lately.
Short sellers have been realizing their profits as in the past 24 hours, over $538,000 worth of TIA has been liquidated, accounting for nearly 82% of total liquidations. Whilst, major short liquidations were registered for the 4-hour timestamp as over $210,000 shorts were liquidated, according to Coinglass stats.
Meanwhile, crypto analyst Deftsuo unveiled a promising outlook for Celestia. He noted that the Celestia price is currently edging toward the $19 resistance in a daily ascending triangle. This paves the way for a potential breakout above $20, which could lead to a strong rally thereafter.
Deftsuo’s projections hint at an implied measured move target ranging from $24 to $26. However, investors are advised to exercise caution, as “setup is invalidated with daily acceptance below the last daily higher-low around $16.”
Also Read: Ripple Eyes Fintech Dominance With its XRP Payment Services
Read the full article here