dailyhodl.com
Coin Bureau host Guy Turner is predicting that a top-50 altcoin by market cap could appreciate by triple digits.
Turner tells the 2.39 million subscribers of the Coin Bureau YouTube channel that the novelty of Celestia (TIA), a decentralized network that allows anyone to deploy their own blockchain easily and at a minimal cost, could be a bullish catalyst.
“Celestia is a brand new cryptocurrency with an Innovative technology that could truly shake up the crypto ecosystem. The speculation around this fact alone could be enough to pump tier by up to 10x even with a much larger market cap.”
Celestia is trading at $15.74 at time of writing, up by around 658% from a price of $2.08 reached on October 31st of 2023.
According to Turner, Celestia’s price trajectory will depend on achieving the crypto project’s product road map which includes introducing on-chain governance as well as enabling scaling solutions for the blockchain to be independent and thus rendering the use of bridges unnecessary.
“Whether TIA can pull a 10x ultimately depends on Celestia’s upcoming milestones…
Besides governance there is one milestone that Celestia seems to implicitly have… It’s the idea that rollups, also known as layer-2s will become their own sovereign chains that leverage Celestia for consensus and data availability.”
On what could be an impediment to the continued price appreciation of Celestia, the Coin Bureau host says,
“TIA’s biggest hurdle is going to be its market cap, which is already around $2.5 billion. When that vesting cliff comes in the autumn, it’s likely that TIA’s market cap will surpass $5 billion. As TIA’s market cap grows, it will become harder to push up its price.”
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