Celestia (TIA) has surged over 19% to $0.526, driven by expectations around its proposed “Sustainable Blob Economy” initiative. The token’s daily trading volume crossed $129 million, while network Open Interest hit a monthly high of $83 million. Short sellers faced significant pressure, with $621K in short liquidations recorded, five times higher than long positions. The rally has invalidated a key trendline resistance, positioning the $0.625 level as the next potential target for bulls.
Celestia [TIA] gained approximately 15.17% in the past 24 hours to trade at $0.509, fueled by high expectations surrounding the new “Sustainable Blob Economy” proposal. The development comes as altcoins are picking up steam alongside a record influx of Bitcoin ETFs into the system, with TIA’s strong correlation to Bitcoin placing it among the top beneficiaries.
Since the proposal announcement on July 11, the network’s trading volume has steadily risen, crossing the $129 million mark over the last 24 hours. TIA has invalidated a key trendline resistance that held for months, with the next resistance level around $0.625 as a potential target for bulls.
TIA’s Open Interest has climbed to a new monthly high of $83 million, pointing to increased leveraged exposure across the network. According to liquidation data, total short liquidations amounted to $621K over the last 24 hours, which is five times higher than long liquidations, indicating bearish positions are being forced out as TIA moves higher.
