Discovered in 2006, the species quickly appeared in the aquarium trade, where its small size and bright colours made it an instant hit.

[5][10] The species is locally fished for food to some extent; it is dried and bought as a protein source by poor people.

A can of some 500 D. margaritatus sold for food fetched about 25 kyat (about 2 UK pounds/3.9 US$/2.7 EUR[11]) before the fish was discovered for the aquarium trade.

Eggs are not strewn freely into the water, but they are not deposited in clutches to a prepared surface either; rather, it seems, that they are hidden away in vegetation as a loose batch.

While pursuit swimming has been observed, it does not seem to be connected directly to the actual act of reproduction in which the male displays to a passing female, and tests her readiness with a brief chase.

[5] Within six months of its appearance in the aquarium trade, the species was falsely reported as having become so rare, collectors were obtaining only a "few dozen fish per day".

The (unfounded) concern over the wild populations led British fishkeeping magazine Practical Fishkeeping to request that only aquarists prepared to breed the fish should buy any fish they see for sale, to reduce pressure on the wild stocks by diminishing the demand for them in the UK.

The celestial pearl danio is prolific, spawning "almost every day", causing ponds that were thought to be empty to be fully restocked a few months later as fry hatched, grew, and reproduced quickly.

[5] Tanks for the celestial pearl danio should be well-planted and direct daylight may be favorable (the natural habitat is so shallow as to be well lit throughout).

Water weed and similar plants should be abundant, and stones and wood to create hiding spots should be provided.

It is advisable to supply the fish with a spawning mop or a dense growth of suitable plants (java moss has been successfully used).

A dense tangle of natural plants for spawning has the additional advantage of harboring protists on which the fry feed initially.

Small, swarming danionins which require similar water conditions would be a natural choice for company, as such more active species provide nice contrast behaviorally and, being available in a wide range of colors and patterns, also make it possible to choose fish that complement the brilliant colors of D. margaritatus.

Many danionins prefer slightly acidic water, however, and maintaining the rather high pH found across the Inle basin seems a necessary condition to keep fish from there successfully.