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The Bain Capital Crypto and Celestia Foundation have announced a $100 million funding initiative.
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The TIA token soared by a massive 17 percent following the announcement.
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Syncracy Capital and other investors also contributed to the funding.
Celestia Foundation has raised $100 million, a significant amount of funding. This news caused a 17% increase in the price of the TIA token over the past 24 hour, outperforming most altcoins.
Celestia Foundation has now received $155 million in funding, led by Bain Capital Crypto, with participation from other notable investors.
The project has grown significantly since its Mainnet Beta launched in October 2023. They have added 20 rollup chains, and released their ambitious technical roadmap “1 GB blocks for Build Whatever”.
TIA Token Soars 17%
CoinMarketCap data shows that TIA has risen 17% in the last 24 hours, and is currently trading at $6.38. The cryptocurrency has gained 32.10% over the past week and 9.28% over the last 30 days.
Read Also: TIA Faces Market Uncertainty Before Token Unlock Event
The altcoin also has a return of 203.72% from September 2023, and a market capitalization of $1.35 billion. This makes it the 54th largest digital asset in this space.
TIA Price Analysis
On the chart, TIA began the daily candle with a high of 6.64 dollars and went up to $6.9 dollars where it appeared to have encountered resistance. The cryptocurrency has fallen to a low price of $6.35, and is still struggling to overcome the resistance.
The Relative Strength Index is 64.14, which indicates that the bulls are in control of the TIA’s price action. The altcoin could soon reach the oversold levels and it would be a good opportunity to capitalize on gains made so far.
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