Cryptocurrency ETPs garnered $2.2 billion in investments in 2023.

Celestia’s TIA token has risen more than 22% in the past 24 hours, bucking a quiet broader market trend as investor interest in token staking has gained momentum amid rising hype around blockchain’s underlying technology. TIA made some gains after trading below $17 in the early morning hours in Asia on Friday. According to data from CoinGecko, it recorded nearly $800 million in trading volume in the past 24 hours, its highest level to date. Staking involves locking your coins into a cryptocurrency network in return for rewards. Using TIA on the basic platform earns users 15% to 17% per year, excluding fees. The unusually high yield compared to the so-called risk-free rate of 4% offered by U.S. 10-year Treasury bonds appears to be driving demand for cryptocurrencies. As of Friday, TIA’s market capitalization was less than $2 billion. This means that valuations are likely to rise even higher in a bull market, allowing participants to make money on both the inflated reward value and initial equity capital.