Celsius (CEL) Price Scorches To 130% Rally Despite Frozen Network Accounts
2022年6月21日 - 11:06PM
NEWSBTC
The native cryptocurrency of Celsius Network – CEL – has
surged over 130 percent in the past 24 hours. The surge occurred as
a result of the crypto market’s relief following many days of
precipitous declines. The Celsius token shed by more than half its
value to reach $0.20 on June 13. Since then, CEL has gained
an upward trajectory. The price of CEL has increased by
an astonishing 375 percent over the previous week, representing the
most growth among the top 100 cryptocurrencies. As of the time of
writing, the token’s average price is $1.51. Suggested Reading |
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Turmoil Celsius (CEL) 24-Hour Volume Skyrockets To Over 400% Its
24-hour trading volume has ballooned to more than 400%,
reaching $66.7 million. Approximately $1.78 million worth of CEL
holdings were liquidated as a result of this large transaction,
according to statistics from Coinglass. The news that Celsius
Network has begun re-paying some of its obligations, returning $10
million in DAI to Compound Finance, and its public commitment to
cooperating with regulators to improve liquidity and operations
could assist the broader cryptocurrency sector in gaining traction.
According to data from Etherscan, Celsius has made many other
repayments and closed positions with lenders over the past week.
Crypto total market cap at $926 billion on the daily chart |
Source: TradingView.com The CEL token has experienced a dramatic
ascent and fall over the past two weeks. A week ago, it was trading
at roughly $0.3183 in the backdrop of the market slump that the
Celsius team’s decision to cease crypto withdrawals is believed to
have caused. CEL Maintains Position In The Green However,
CoinMarketCap data indicates that Celsius remained in the green
last week despite the majority of crypto markets being in the
negative until two days ago. In a recent blog post, Celsius
notified the community that it will coordinate with regulators
to to find a resolution to withdrawals, transfers and swaps
that remained disabled. Experts feel that the doubling of the CEL
token price is the result of a short squeeze. Approximately 87
percent of the CEL tokens supply is apparently frozen on its own
network, while withdrawals remain suspended. On the FTX platform,
the Celsius token is being heavily shorted. In a blog post dated
June 20, the network stated: “It has been one week since we paused
withdrawals, Swap, and transfers. We want our community to know
that our goal continues to be stabilizing our liquidity and
operations. This process will take time.” Suggested Reading
| Bitcoin Climbs Back Above $20K, A Bit Of A Relief To The
Sinking Crypto Market Featured image from Reader’s Digest, chart
from TradingView.com
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