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What Is the Celsius price prediction today
AT A GLANCE
- In 2024, Celsius price is expected to reach $0.8026, according to some experts
- 2025 promises to be turbulent, with prices ranging from $0.28 to $2.256, with WalletInvestor predicting a breakthrough leading to a price rise to $2.256
- By 2030, CEL price can hit $0.8026
Celsius fundamental analysis
Celsius is an all-in-one banking and financial services blockchain platform. The users of the platform get rewarded for depositing the cryptocurrency and can use other financial services, including loans and wallet-style payments.
The project was initially created in 2017 by Alex Mashinsky and Daniel Leon. By 2022 the number of users exceeds 2 million and the total amount of processed loans surpassed $8 billion. Currently, the project functions with the efforts of the core team of over 200 professionals, which includes technical developers and advisors with impressive experience in many financial and crypto-related fields.
The vision of the project is very ambitious as it aims to offer financial services that banks fail to provide, such as fast transactions with low or zero fees and high and fair yields. In this way, Celsius wants to destroy the existing industry and create a new one that will be based on crypto and provide each user with wider financial freedom. Interestingly the Celsius company has more than $200 million invested in Bitcoin mining and is one of the largest miners in Northern America.
Celsius plans to outperform the banks by offering much higher rates on returns from savings and deposits, easier and lower loan requirements, and reduced interest, penalties, and financial services fees. Moreover, there are algorithmically computed rewards for each user. Celsius also lends funds to some institutional organizations, such as hedge funds.
The network uses a modified Proof-of-Stake consensus algorithm.
CEL is the native ERC-20 token of the Celsius network. It is used for some user-related operations on the network and is also tradable outside of the platform on external exchanges. During the Initial Coin Offering in 2018, the asset raised $50 million. The CEL token has a total supply of 695 658 161 tokens, with 76% the circulating and 24% locked according to the plan.
In June 2022 Celsius paused all the operations between the accounts, including withdrawals, swaps, and transfers due to “the conditions of the market”, even though the users kept receiving the rewards for their deposits. As of June 22, the service still didn’t lift the suspension.
Celsius live price chart
Since the summer of 2021, the CEL token price chart was declining. After the big gains of the bull season in spring-summer 2021 when the asset reached the price of $8.01, it started to lose the price.
The first price correction happened on June 23, 2021, when the CEL token dropped to $4.9. After the series of price corrections and recoveries, it established a new support level of $4.8. Till the beginning of July, the native asset of the Celsius network was trading at around $6-$6.3, but after the first week of the month went into a downtrend and by September 28 its price dipped back to $4.9. It was followed by a short price correction, which lasted from the beginning till the middle of October. At that time the price of CEL was stable at a level of $5.6.
As the bull trends started to wear off from the crypto market at the beginning of November, the price of the CEL token started to collapse even faster. It reached $3.9 by the middle of December and made a short attempt to grow on the last day of 2021. As the market stayed bearish, the price of CEL also kept on a downward trajectory.
At the end of January 2022, the Celsius crypto dropped to $2 but quickly recovered and was bouncing between $2.8-$3.1 till the beginning of April. The crypto market at that time was shaken by the massive sell-off again and the price of the CEL coin went down to $2.2. It stayed stable for 3 weeks and then sank lower to $0.8 at the beginning of May.
The CEL crypto price chart continued declining till the middle of June. Recently the native coin of the Celsius network has been trying to recover and even climbed to $1.2 on June 20.
Celsius technical analysis
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