CELESTIA'S TIA TOKEN SURGES 25%, LEAVES CRYPTO TRADERS IN DISBELIEF
TIA surges 25% in one week, hinting at a positive turnaround following a five-month downtrend.
Traders continue to short TIA perpetual futures, negative funding rates suggest.
TIA's rally may have legs, according to one observer.
Data availability blockchain network Celestia's native cryptocurrency TIA has jumped 25% to $7.30 this week, registering the best performance among the top 100 digital assets by market value.
Traders seem skeptical about the ongoing price surge and are taking bearish bets by shorting perpetual futures tied to the cryptocurrency, according to funding rates tracked by CoinGlass.
Average funding rates across exchanges flipped negative over the weekend and have dropped to -0.1231% since then, reaching levels last seen in January. In other words, bias for bearish bets is most pronounced in six months
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