Celestia falls back on Ethereum for data security as TIA jumps

• The undertaking built-in OP Stack and Arbitrum Nitro to assist with knowledge safety.
• TIA reached a brand new ATH and its quantity elevated.

Modular consensus and knowledge community Celestia [TIA] has launched an L2 system referred to as the “Ethereum fallback.” Celestia described the Ethereum [ETH] fallback mechanism as one which backs up knowledge availability if there’s any downtime on the Celestia mainnet. 

2FA for the Celestia camp

In response to the undertaking, two L2s are concerned within the development— Arbitrum [ARB] and Optimism [OP]. Celestia revealed that its selection of Optimism’s OP Stack was as a result of the blockchain can again up rollup blocks and posts to Ethereum.

Within the case of Arbitrum Nitro, Celestia desires it to have interaction its superior calldata compression.  That is to make sure that it shops on-chain knowledge if main knowledge availability fails. Relating to each ideas, Celestia famous that:

“These two capabilities work collectively to make sure that the Ethereum fallback mechanism operates appropriately, permitting the rollup to proceed functioning even in periods of downtime on Celestia.”

On account of this disclosure, AMBCrypto proceeded to evaluate Celestia’s growth exercise. At press, the event activity was all the way down to 1.06. This metric tracks the work completed in a undertaking’s public GitHub repository.

Supply: Santiment

So, the lower signifies that there was a whole lot of exercise associated to sprucing the community.

As for the TIA value, it reached a brand new All-Time Excessive (ATH) of $7.35. In a earlier article, AMBCrypto discussed TIA as one of many new initiatives sustaining a very good value motion.

TIA’s uptrend resumes

However of late, the token was on the mercy of a 30% slump. As of this writing, the TIA/USD H4 chart has reclaimed its bullish market construction. Nevertheless, plainly the uptick was beginning to get overheated. 

If that’s the case, the value motion may retrace from the northward course. One of many causes for this assumption is the Relative Energy Index (RSI). At press time, the RSI was 71.75 which is taken into account overbought. 

Just like the RSI, the Bollinger Bands (BB) additionally bolstered the notion that TIA was overbought. This was as a result of the higher band of the BB touched TIA at $7.30. If the decrease band had hit the value, TIA would have been tagged oversold.

Supply: TradingView

Subsequently, there’s a probability for TIA to drop. Additionally, if the 26-day EMA (orange) turns into at par with the 12-day EMA (blue), the token worth might retrace. Nevertheless, there appears to be help round $6.32. Ought to the value reverse, it may not go under $6.50 within the brief time period.

Two different metrics to have a look at when analyzing Celestia are social dominance and quantity. 

Lifelike or not, right here’s TIA’s market cap in ETH terms

On the time of writing, TIA’s quantity was 188.40 million— a slight lower from the 221.80 million peak. Which means there have been many TIA tokens exchanging palms currently.

So, it was not stunning that the social dominance rose to 1.878%, indicating a rise in dialogue across the undertaking.

Supply: Santiment