Celsius Network (CEL) price has declined today.
The price of Celsius Network (CEL) is $0.372919 today with a 24-hour trading volume of $1,678,447. This represents a -5.00% price decline in the last 24 hours and a -9.30% price decline in the past 7 days. With a circulating supply of 420 Million CEL, Celsius Network is valued at a market cap of $159,316,163.
What is Celsius Network?
Celsius Network is a P2P lending platform allowing users to borrow and lend cryptocurrencies. The system is based on the Celsius Network native token, CEL.
By using their cryptocurrencies as collateral, borrowers can easily have access to fiat currencies with a small interest rate without the need to sell their cryptocurrencies.
Lenders are paid an interest rate for the cryptocurrency that was deposited in their Celsius Network wallet.
How does it work?
Users can earn interest by depositing cryptocurrencies into Celsius Network. The interest is paid weekly and users have the option to withdraw at any time. To make things better, users are not charged whenever they deposit or withdraw funds.
Users can also earn “Bonus Interest” through the Celsius Loyalty Rewards. For example, if the overall wallet balance has 20% in CEL tokens, users will be deemed as a Platinum Celsius member, thus obtaining a 30% Bonus Interest and 30% Loan interest discount.
Is it safe to store your cryptocurrencies with Celsius Network?
To protect assets that are deposited in the platform’s cold wallet, Celsius Network has partnered with BitGo. Through this, BitGo will cover any losses by offering up to $100 million in insurance for these assets.
It is also worth noting that the company does not directly grant insurance on crypto deposits. In other words, during the event of a cyber attack, users are vulnerable to losing their assets. In those situations, Celsius Network promises to use its balance sheet to offset the damages to its clients. However, their Terms of Use do not guarantee the return of funds in the case of a breach.
Background
Celsius Network was founded by Alex Mashinsky in 2017. The company exists based on the fundamental idea of decentralization by allowing people to unbank themselves and substituting the existing financial structures with a new model.
To learn more Celsius Network, you may watch an interview of Alex Mashinsky by Altcoin Buzz below:
Where can you buy Celsius Network?
CEL tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Celsius Network is OKX, where the most active trading pair CEL/USDT has a trading volume of $366,034.25 in the last 24 hours. Other popular options include DigiFinex and MEXC Global.
What is the daily trading volume of Celsius Network (CEL)?
The trading volume of Celsius Network (CEL) is $1,679,298.54 in the last 24 hours, representing a -34.40% decrease from one day ago and signalling a recent fall in market activity.
What is the all-time high for Celsius Network (CEL)?
The highest price paid for Celsius Network (CEL) is $8.05, which was recorded on Jun 04, 2021 (almost 2 years). Comparatively, the current price is -95.30% lower than the all-time high price.
What is the all-time low for Celsius Network (CEL)?
The lowest price paid for Celsius Network (CEL) is $0.026202679501, which was recorded on Dec 07, 2018 (over 4 years). Comparatively, the current price is 1,334.50% higher than the all-time low price.
What is the market cap of Celsius Network (CEL)?
Market capitalization of Celsius Network (CEL) is $159,316,163 and is ranked #215 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of CEL tokens (420 Million tokens are tradable on the market today).
How does the price performance of Celsius Network compare against its peers?
With a price decline of -9.60% in the last 7 days, Celsius Network (CEL) is underperforming the global cryptocurrency market which is up 11.20%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.
What is the market sentiment of Celsius Network today?
The community is bullish as more than 100% of users are feeling good about Celsius Network (CEL) today.
How to add Celsius Network (CEL) to MetaMask?
Adding Celsius Network (CEL) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import CEL as a token. You can copy CEL’s contract address (0xaaaebe6fe48e54f431b0c390cfaf0b017d09d42d) and import it manually, or if you've installed MetaMask's chrome extension, add CEL to MetaMask with one click on CoinGecko.
Add CEL to MetaMask.
