Celestia, a blockchain project, is seeing a huge price jump after its foundation secured a massive $100 million investment.
Big Names Back Celestia
The money came from a group of big-name investors, led by Bain Capital Crypto. Other investors include Syncracy Capital, 1kx, Robot Ventures, and Placeholder.
This investment is a big deal for Celestia, which is known for its “modular” design. This means it’s built in a way that lets developers easily add new features and improvements.
Celestia Aims for Super-Fast Speeds
Celestia is working on making its network incredibly fast. They’re aiming to process data at a rate that’s much faster than current systems, like Visa’s payment network.
The project’s co-founder, Mustafa Al-Bassam, says Celestia is going from “dial-up” speeds to “fiber optic” speeds. This means transactions will be much quicker and more efficient.
Celestia’s Price Takes Off
The news of the investment sent Celestia’s price soaring. It gained over 26% on the day of the announcement. This shows that investors are excited about the project’s future.
With this new funding, Celestia is poised to become a major player in the blockchain world.
