Celestia's entire job is to charge rollups almost nothing — and that's exactly the problem showing up in its price.

$TIA is down 98.45% from its 2024 high, trading at $0.3253 today. Not because the tech failed. Celestia does one thing: store transaction data so rollups don't have to. That's the "data availability" layer — separate from execution (where transactions actually run) and settlement (where disputes get finalized). Splitting those jobs up is the whole modular pitch. But daily chain fees sit around $200, and TVL has dropped over 95% from peak — the layer works exactly as designed, it just wasn't built to capture much value doing it.
The recent "Matcha" upgrade cut token inflation from ~5% to ~2.5%, tightening supply pressure at least.

Bias: modular architecture is technically sound but still hasn't found a way to make the DA layer itself valuable, not just useful. Worth asking — if the layer works perfectly and still can't capture value, is that a temporary growing pain or the actual ceiling?
#ModularBlockchain