Celestia: Will the Growth of TIA Active Users Stop the Decline to $3.7
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Despite being one of the leading IBC blockchains by active users, Celestia has yet to overcome the prevailing pessimism in the market.
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The trading community remains predominantly bearish, with a significant number adopting short positions on TIA.
Over the last month, Celestia [TIA] has faced a steep downturn, losing more than 12% of its value. The daily charts indicate an ongoing sell-off with an additional decline of 6.60%, reflecting growing negative momentum.
The recent analysis by AskFX indicates that we may not have reached a bottom yet and cautions that TIA’s market valuation could keep declining in the short term.
The rise in TIA’s active users contrasts sharply with ongoing market pessimism.
Fresh metrics reveal a noteworthy spike in active users on Celestial blockchain—an IBC-enabled network native to TIA—over the past week.
The Inter-Blockchain Communication (IBC) framework allows seamless data transfer and enhanced interoperability between different blockchains. Recent statistics showed that Celestial attracted about 62,650 active users this past week alone, securing its position as second among IBC chains regarding user engagement.
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Nonetheless, despite this increase in user activity, there has been no corresponding positive movement within TIA’s pricing. CoinMarketCap indicates that its market capitalization shrank by approximately 6.29%, landing at $2.14 billion while trading volumes nosedived nearly by 48.69%.
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These figures reflect diminishing stakeholder confidence across markets overall; further examinations suggest potential for continued bearish conditions surrounding TIA.
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