Celsius Network (CEL)#46
Celsius Network is a decentralized form of digital asset/cryptocurrency. In the last 24 hours CEL price is up 0.75%. Celsius Network has an available supply of 423,415,980 and a total supply of 695,658,161 coins alongside with $2.6B market cap and a $5.2M 24h trading volume.The most active CEL trading exchange is FTX. The addresses and transactions of Celsius Network can be explored in https://etherscan.io/token/0xaaaebe6fe48e54f431b0c390cfaf0b017d09d42d and https://ethplorer.io/address/0xaaaebe6fe48e54f431b0c390cfaf0b017d09d42d. Celsius Network website is https://celsius.network/. 1.14% of CoinStats users own Celsius Network.
What Is Celsius Network (CEL)
The Celsius Network (CEL) is a regulated as well as SEC-compliant lending platform, which provides users with the opportunity to receive interest on deposited cryptocurrencies or take out cryptocurrency collateralized loans.
The system is based around the native token it has known as CEL, which is primarily used to take loans, provide rewards and make payments.
You can get additional benefits through using the cryptocurrency, and this includes making the loans cheaper or receiving higher yields. All of this shapes the CEL price and the market cap. Note that this is not financial advice, and the Celsius price is volatile.
It is a financial services platform that offers all-in-one banking, and the Celsius network price should give you an idea of what it's worth. Its market capitalization is also an indicator of its trading volume.
Who Are the Founders of Celsius Network (CEL)
The Celsius Network (CEL) was created by Alex Mashinsky and Daniel Leon in 2017.
Alex Mashinsky had a history in the internet development space and worked on the Voice Over Internet Protocol (VOIP) in the 90s, and other technologies.
Daniel Leon had experience in early-stage startup growth. He was the CEO of Atlis Labs, which is a social recommendation and discovery application that used real-time user referrals.
In 2018, Celsius had an Initial Coin Offering (ICO), where they raised $50 million by selling 325 million CEL, which was half of the total supply. It has a total supply or maximum supply of 695,658,160 and a circulating supply of 238,863,519.83 CEL, which can give you a perspective on the circulating supply versus the max supply. All of this contributes to its market cap.
What Is Celsius Network (CEL) Used For
The Celsius Network (CEL) has four key players, including lenders, which are depositors that earn interest on their account holdings, borrowers, which are margin traders that want to take leveraged short or long positions, Celsius Platform, which facilitates the trades, manages the risk and determines the trading fees and external exchange markets, which execute trades and borrows or provides liquidity.
This includes higher rates of returns on savings and deposits, easier and fairer loan requirements and automated rewards computed for each user algorithmically.
The platform functions as a wallet as well through a feature known as the CelPay feature, which hosts its own CEL token that users can leverage with the intention of increasing payout value alongside other things.
If you want to earn income through the usage of the Celsius Network, you need to deposit crypto assets on the platform and earn rewards through a variety of different cryptocurrencies.
These funds are managed in a lending stake pool and lent to external exchanges.
To determine the distribution that is paid to the lenders, it uses a modified proof-of-stake (PoS) system where the interest which is paid to the lenders is a function of which funds are deposited as well as the number of days they have participated within the mechanism.
Furthermore, there are multiple users that have the opportunity to borrow through the usage of the Celsius platform, including general users, which are users that deposit crypto on the Celsius Network and use the funds as collateral to get their loan, traders who are accredited investors who borrow capital from lending pools to trade but require a minimum of $10k to cover potential losses and fees. You also have exchanges which are institutions that borrow from the Celsius lending pools if they need added liquidity when it comes to trade settlements.
View the trading volume of CEL Celsius at any time if you want to engage in trading, but this is not financial advice, and there are many currencies out there as well with their own websites and dollar values. This is not financial advice, and the Celsius Price is volatile. Interest payments are serious, and its circulating supply is quite large. It has a fully diluted market cap of $4,129,371,716, and you can analyze site traffic and market cap further.
Where Can You Buy Celsius Network (CEL)
Celsius Network has an available supply of 423,415,980 and a max supply of 695,658,161 coins alongside a $2.5B market cap and a $6.1M 24h trading volume. CEL has a price of $5.84. It has a circulating supply of 238,863,519.83 CEL, and the price varies due to the demand it has. The transactions occur within a few minutes, and it has targeted advertisements and offers rewards.
If you want to buy, sell or trade Celsius Network (Celsius CEL), you can do so on the following exchanges: FTX, OKEx, BitMart, Liquid, and Uniswap V2.