Celestia is gaining ground on the bears after the platform shared recent information about its upcoming network update called Lemongrass. According to CoinGeckoTIA is up over 13% since last week, effectively putting the token in the spotlight. The newfound momentum can be attributed to the first network upgrade that will change the user experience across the entire network due to the features it will implement.

Given the overall bullish momentum in the market, TIA could be in an ideal position to continue its upward movement. However, investors should still be cautious about upcoming macroeconomic indicator releases that could be bearish.

Lemongrass: Celestia’s First Network Update

Celestia’s Official X Account published about updating Lemongrass, giving it a too-long-don’t-read-it tract. The post describes a few features that will be part of Lemongrass.

“The community-developed and coordinated Lemongrass platform includes Tia’s one-click interactions with other IBC networks, Interchain accounts, and a new update mechanism,” Celestia said.

Celestia’s first update – Lemongrass – coming soon. 🍵

Developed and coordinated with the community, the Lemongrass app includes Tia interactions with other IBC chains via one click, Interchain accounts, and a recent update mechanism. photo: twitter.com/Lu6f3vWeU9

— Celestia (@CelestiaOrg) August 8, 2024

On the platform clerk blog post about the update, the recent features are part of several proposals that have been approved by the community. One of them is a price enforcement feature. It will set a minimum gas price for transactions, making the network more productive and “ensuring that the cost of using the network is properly accounted for.”

The most notable of all the changes is the implementation of cross-chain accounts on the platform. With the Inter-Blockchain Communication protocol, Celestia accounts are now accessible and controllable on other chains that support IBC, giving users of both ecosystems flexibility and convenience in accessing their accounts.

The update will first go through the Arabica development network, before rolling out to the Mocha testnet later this month, with a beta release in mid-September.

At the time of writing, no specific release date has been announced for Lemongrass 1.0.

Will Celestia have a complex trading day?

The current movement of the token is not something desirable. TIA is occupying a price range of $4.8-$5.8, which leaves no room for either bulls or bears to make a significant rise. Although the market is bullish, its cooling phase that began today could be a sign of pain or gain to come.

While the market is waiting for coming macroeconomic publications, the stability that will follow over the next few days will be accompanied by extreme volatility that may indicate both growth and decline,

If bulls are supported by positive economic growth, TIA could reclaim $6 in the tiny term while settling at $8 in the long term. However, if the opposite happens, we can expect TIA to fall well below the $4 range, which could put long-term holders of the token in a bad position.

Featured image from Pexels, chart from TradingView