In this article, we tried to answer questions such as what is CEL coin, what is the cryptocurrency Celsius Network (CEL), and how to buy CEL coin. Here are the details about CEL coin review and future…
How much is CEL Coin?
According to current crypto money market data, 1 CEL Coin 3.16 TL is traded at TL. CEL Coin price has fluctuated between -53.92% in the last 24 hours. The trading volume of CEL Coin in the last 24 hours is 30,759,471 $ and its total market cap is . ) 78,187,926 $ dollars.
How much is CEL Coin?
According to current crypto money market data, 1 CEL Coin 0.184660 $ is traded for dollars.
What Happened on the Celsius Network (CEL)?
Celsius Network, one of the largest crypto lenders, announced on Sunday evening that it is pausing withdrawals, swaps and transfers between accounts in a controversial move that has caused the price of the firm’s token to drop by 60% in the past.
In the statement, it was emphasized that the stop step was taken to reach Celsius in a better position to fulfill its obligations over time, and it was stated that users will continue to earn rewards during the temporary suspension period.
Celsius Network’s announcement came after the cryptocurrency market crashed over the weekend.
Celsius’s own token, CEL, has dropped more than 70 percent from $0.48 to as low as $0.14 in the past 24 hours, according to data from CoinGecko.
Celsius Network (CEL) What is Coin?
Celsius Network is a financial technology (fintech) platform that offers interest-bearing savings accounts, borrowing, and payments with digital and fiat assets. Celsius gives back 80% of its revenue as rewards to network users, while the other 20% is funding the expansion. This value proposition challenges traditional banking models while prioritizing the Celsius community. Celsius Network creates an integrated ecosystem by offering leading digital assets and fiat currencies as well as a suite of native CEL tokens.
Celsius Network is a blockchain-integrated fintech platform accessible to anyone with a smartphone. With its suite of lending, yield generation and payment solutions, Celsius Network provides access to financial services and conditions that cannot be provided by traditional institutions. Fundamentally, Celsius’s mission is simple: it provides financial services while doing what is best for society, not intermediaries.
Celsius Network’s community priority mission reverses the traditional approach taken in financial services and allows for a radical alternative. Celsius returns 80% of all earnings to users in the form of rewards and attractive interest rates on savings. But how can Celsius do that? The key lies in the over-collateralization of crypto loans and re-assumption, a process in which crypto funds held as collateral on the Celsius Network are loaned to another party, in which case large investors provide reliable entries into the cryptocurrency.
Instead of borrowing crypto from free sources, investors such as hedge funds can borrow crypto from a proven source: Celsius Network. Celsius offers an attractive opportunity for large institutional investors seeking a secure entry into the crypto market by pooling cryptocurrency. The interest Celsius earns from these investors is fed back into the community. 80% of the profit is given to Celsius Network users, while 20% is used to finance the development on the platform. A closer look at each segment of the Celsius Network highlights a robust ecosystem of incentivized interactions.
Interest Earning
Celsius’s earning network allows users to stake their cryptocurrencies to borrow and earn interest in return. The platform accepts more than 35 tokens including BTC, LTC, ETH and stablecoins such as USDT, GUSD and DAI. The Annual Percent Return (APR) of each cryptocurrency staked reflects the market demand for that cryptocurrency.
Unlike fiat banks, Celsius does not require a minimum deposit to start earning interest. Also, there are no lock-in periods or penalties for not meeting the minimum amount or withdrawing your money. With fewer restrictions and higher returns, the Celsius Network offers a radically different value proposition in the way you manage and hold your assets.
What is CEL Coin?
CEL token, released in June 2018, forms the basis of Celsius Network’s earning and reward systems. Initially, only 50% of the tokens were mined, 25% went to the founding team and the rest was locked in a smart contract. According to the project details, locked tokens will enter circulation when the CEL maintains a market cap of $1.50 for more than 10 days and again exceeds $3 for 30 days. Use of the
CEL token provides unique benefits to each Celsius user group:
Winners : Winners receive 30% off all deposits of non-CEL tokens by accepting prizes in the form of CEL tokens. up to receive more rewards.
Borrowers : By paying interest with CEL tokens, borrowers receive up to 30% discount on interest payments.
Institutions : Institutions that borrow tokens from Celsius by paying interest with CEL tokens receive a 30% discount on interest payments.
Reward percentages are derived from the Celsius loyalty program attributing each user’s CEL holders. For example, the Bronze award level requires 5-10% of your portfolio to be in CEL, 10-15% of Silver, 15-20% of Gold and 20-100% of Platinum. The most beneficial use of CEL is to earn compound interest, especially if you can maximize rewards by allocating substantial CELs in your portfolio.
