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CEL Price   

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CEL

Celsius Network  

#CEL

CEL Price:
$0.64
Volume:
$9.7 M
All Time High:
$8.10
Market Cap:
$25.6 M


Circulating Supply:
40,248,623
Exchanges:
17
Total Supply:
40,555,424
Markets:
23
Max Supply:
695,658,161
Pairs:
31



  CEL PRICE


The price of #CEL today is $0.64 USD.

The lowest CEL price for this period was $0, the highest was $0.636, and the exact current price of one CEL crypto coin is $0.63594.

The all-time high CEL coin price was $8.10.

Use our custom price calculator to see the hypothetical price of CEL with market cap of SOL or other crypto coins.


  CEL OVERVIEW


The code for Celsius Network crypto currency is #CEL.

Celsius Network is 6 years old.


  CEL MARKET CAP


The current market capitalization for Celsius Network is $25,595,839.

Celsius Network is ranking downwards to #563 out of all coins, by market cap (and other factors).


  CEL VOLUME


There is a big volume of trading today on #CEL.

Today's 24-hour trading volume across all exchanges for Celsius Network is $9,666,342.


  CEL SUPPLY


The circulating supply of CEL is 40,248,623 coins, which is 6% of the maximum coin supply.


  CEL BLOCKCHAIN


CEL is a token on the Ethereum blockchain, and has digital contracts with 4 other blockchains.

See list of the CEL Blockchain contracts with 5 different blockchains.


  CEL EXCHANGES


CEL is integrated with many pairings with other cryptocurrencies and is listed on at least 17 crypto exchanges.

View #CEL trading pairs and crypto exchanges that currently support #CEL purchase.


  CEL RESOURCES


Websitecelsius.network
Whitepapercelsius.network/static/celsius-whitepaper.pdf
TwitterCelsiusNetwork
Redditr/CelsiusNetwork
Telegramjoinchat/HYLRa0ReCxzSceDa25ovlg
Mediumblog.celsius.network


  CEL DEVELOPER NEWS



Bar Date FAQ

Why did the bar date reopen?, The Court issued an Opinion on March 9, 2023, stating that account holders only have claims against Celsius Network, LLC. under the Terms of Use, which resulted in an amendment to the Schedules. As a result, the bar date was reopened, and customers now have until April 28, 2023, at 5 pm ET to file a Proof of Claim. 2. Why were the Schedules amended? The Schedules were amended to reflect that only Celsius Network LLC is liable for contract claims under Celsius’ Terms of Use pursuant to the Court’s Opinion, which may be found on Stretto at Docket No. 2205. 3. Is my previous claim still valid? Yes, if you previously filed a Proof of Claim, it is still valid. You do not need to refile or amend your previous claim at this time. 4. Can I still file a non-contract claim against other Celsius entities? Yes, non-contract claims can be filed against Celsius Network Ltd. or other entities until April 28, 2023. 5. What do I need to do? If you have previously filed a Proof of Claim and agree with the amended schedules, no further action is required. If you disagree with the amended schedules or if you have not previously filed a Proof of Claim and wish to do, you have until 5 p.m. ET on April 28, 2023. You can find the claim form on Stretto. 6. Where can I find more information? You may view the Memorandum Opinion on Stretto at Docket No. 2205.




Settlement FAQ

1. What is the Settlement? After months of litigation, Celsius has reached an agreement with the Custody Ad Hoc Group and the UCC on a Settlement that returns most digital assets in the Custody Program to account holders who opt in to the Settlement. Custody users who elect to opt in to the Settlement will receive a total of 72.5% of their Custody Program digital assets back over time in exchange for (i) electing not to pursue any Custody-related claims or causes of action prohibited by the Settlement and (ii) voting in favor of the Plan. 2. How can I opt in? If you are eligible to opt in to the Settlement, you will receive an email from Stretto. In this communication, you will receive a unique PIN that can be used on the Stretto Settlement page linked in your email. You can also go to the Stretto page to enter your Custody-related email address to receive the Stretto email with the unique PIN and further instructions. 3. Where do I submit my election on Stretto? You can submit an election opt in form using the link included in the opt in notice from Stretto. You can also enter your Custody-related email address to receive the Stretto email with your unique PIN and further instructions here. 4. What happens if I don’t opt in? Your assets will remain on the Celsius platform. You will have the opportunity to agree to the Settlement again in connection with the chapter 11 plan. 5. When will I get my assets? Settling Custo...




Celsius Claims Objections FAQ

In an effort to ensure equitable voting and distributions under its forthcoming plan of reorganization, Celsius has filed, and will continue to file, claims objections (individually, an “Objection,” collectively the “Objections”) over the next several weeks. We are sharing the information below to provide customers with answers to frequently asked questions related to Objections. — Celsius Claims Objections Frequently Asked Questions - 1. Why is there an Objection to my Proof(s) of Claim? If you filed Proof(s) of Claim (each, a “Proof of Claim”) and received a notice of Objection from Celsius (the “Notice”), it is generally for one or more of the following reasons (there may be other reasons for Celsius to object to claims and the specific reason(s) Celsius objected to your Proof of Claim will be set forth in the Objection): A. You filed a claim that was amended by a subsequently filed Proof of Claim., B. You filed duplicate claims for the same liabilities., C. You filed a claim which is not reflected in Celsius’ books and records and for which Celsius is not liable., D. You filed a claim that does not match Celsius’ books and records because it asserts amounts greater or less than the amounts in Celsius’ books and records., E. You filed a claim that does not comply with the requirements of the Bar Date Order — for example, by asserting a claim for cryptocurrency that does not detail the ty...




Custody Account Withdrawal FAQ

Celsius will begin to notify Eligible Users of necessary steps to facilitate withdrawals for distributable assets in certain Custody Accounts. You can find helpful information about the withdrawal process below. — GENERAL - 1. What withdrawals did the Court authorize Celsius to reopen? The Court has authorized Celsius to reopen withdrawals for certain customers with assets held in Custody Accounts. At this time, Celsius is authorized to return assets that fall into two categories, subject to certain eligibility requirements as explained in question 2: “Pure” Custody Account Assets: These are assets that were never in the Earn Program or Borrow Program and were transferred directly into the Custody Program. There is no cap on the amount of Pure Custody digital assets that are eligible for withdrawal., “Transferred” Custody Assets: These are assets that were transferred from the Earn or Borrow Program into the Custody Program in the 90 days before Celsius filed for chapter 11 protection on July 13, 2022. Celsius is authorized to allow withdrawals for customers with aggregate transferred custody assets below $7,575 (an amount defined by section 547 of the Bankruptcy Code). Customers with aggregate transferred assets greater than $7,575 may not withdraw at this time., 2. Which Custody account holders cannot withdraw Custody account assets? Current and former Celsius employees, including “insiders,” are not ...




Community Update — November 15th Hearing

Community Update — November 15th Hearing - Dear Customer – This week, the court approved our motion to set the bar date, which is the deadline for all customers to file a proof of claim. The bar date has been set for January 3, 2023. Customers should expect to receive a notice regarding the bar date from our claims agent, Stretto, via email, physical mail for those customers with an address on file, as well as through a notification in the Celsius app. The notice will also include instructions on how to file a proof of claim. As a reminder, customers who agree with Celsius’ scheduling of their claims as filed in the Schedules of Assets and Liabilities do not need to submit a proof of claim and no further action is required of them at this time with respect to such claim. Additional information about our proofs of claim process can be found on the Stretto website. You may also recall that we created this video to help explain the claims process. Additionally, we continue to closely monitor the environment across our industry. We want to take this opportunity to assure you that data and asset security remain a top priority for all at Celsius. Our next hearing is scheduled for December 5th, where we plan to advance discussions around Custody and Withhold accounts, among other matters. Thank you. Celsiu




Claims Process FAQ

We expect to soon begin the claims process. An overview of this phase of our restructuring process is available in this video. 1. What are the Schedules of Assets and Liabilities? As part of our Chapter 11 proceedings, Celsius files documents with the Court listing, among other things, all customer account balances as of July 13, 2022, when the restructuring process began as well as customer transactions in the 90 days preceding the Chapter 11 filing. Customers can access the Schedules on the Stretto website at cases.stretto.com. 2. Why is the amount listed in the Schedules different from my account balance in the app? There are several possible reasons why the amount listed on the Schedules may be different from the account balance displayed in the app, including post-filing deposits, pending transactions, and reward-related changes. Note regarding a potential discrepancy between Celsius’ filed Schedules of Assets and Liabilities and customer reward balances: Certain Celsius account holders may have been eligible for additional rewards for the period of July 8, 2002 to July 13, 2022, which are reflected in the Schedules but not currently reflected in the Celsius app. Affected accounts are currently being updated and the app will soon display the revised balance. 3. Do I have to file a claim? If you agree with Celsius’ records as filed, you do not need to complete and submit a proof of claim form; no further action is re...




Community Update — September 14th Hearing

Community Update — September 14th Hearing - Following our productive hearing today, we wanted to share some important updates about what customers can expect in the coming weeks. Since our last hearing, Celsius has been constructively engaging with the Unsecured Creditors Committee and U.S. Trustee to make meaningful progress on our efforts to maximize value for all customers and ensure continued transparency in our case. Looking ahead, we expect to soon begin the Claims process. At this time, the proof of claim form is not yet available and the “Claims Bar Date,” which is the deadline to file a claim, has not yet been set. In the next few days, we will be emailing you detailed instructions on how to participate. Our objective is to make the entire process simple and straightforward for all customers. For more details on this upcoming phase of the restructuring process, please watch this video. Our next Court appearances are scheduled for October 6 and October 7, 2022. The first of these hearings will focus on several matters, including approval for certain key elements of the Claims process. At the October 7th hearing, we hope to advance discussions regarding the reopening of withdrawals for certain of our Custody and Withhold account holders with the other stakeholders. Celsiu




Community Update — Third Day Hearing

Community Update — Third Day Hearing - As we move forward through our restructuring, we participated in our third day hearing earlier today. We appreciated the opportunity to hear from many of the key stakeholders in our Chapter 11 process and engage in dialogue on several timely and important matters. We continue to focus on maximizing value for all stakeholders, and we today took what we hope to be a positive first step towards meeting the expectations of our community. Among the many important matters discussed was a motion that we filed with the Court requesting that customers with certain Custody and Withhold accounts should be granted the ability to withdraw the amount of digital assets owed to them in those accounts. At this time, the motion is focused on assets currently owed in Custody and Withhold accounts that were never in the Earn or Borrow Program, as well as Custody and Withhold accounts where transfers from the Earn and Borrow Programs were, in the aggregate, less than USD $7,575 (a specific legal threshold), for users that do not have outstanding loans. We are approaching recovery in stages and this step is just the first among many. Our collaboration and productive dialogue with the Unsecured Creditors Committee (UCC) and the various ad hoc committees representing Custody and Withhold account holders, and others, will continue in a dynamic manner. This motion is currently scheduled to be heard by th...




Community Update — Second Day Hearing

Today, alongside the Unsecured Creditors Committee (UCC), which is made up primarily of our customers, the U.S. Trustee, and a number of other important parties, we participated in the Second Day Hearing in our case, where we continued the dialogue around Celsius’ efforts to maximize value for our community. A lot of ground was covered, including: • Our productive, transparent, and ongoing engagement with the UCC • Work by all parties to advance thinking on key legal issues in this complex proceeding • Our intention to see our customers capture any and all value associated with the recent rise of crypto We are encouraged that the community has a voice in this process. We aimed to address some of the key community concerns that are being shared as part of our case. We are working expeditiously on the path forward. We have a meeting with the UCC next week to discuss optionality for customer recovery, and our next hearing is expected to take place on September 1, 2022. The full presentation from today’s hearing can be found here.




Latest Community FAQ

1. What did Celsius announce on July 13th? Celsius initiated a financial restructuring process to provide the company with the best opportunity to stabilize the business and consummate a comprehensive restructuring transaction that maximizes value for all stakeholders. To implement the restructuring, Celsius and certain of its affiliates filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. 2. What is Chapter 11? Why did the company file for Chapter 11? Chapter 11 is a process in the U.S. through which a company can restructure its financial obligations. Celsius initiated a financial restructuring to stabilize the business and maximize value for all stakeholders. Acting in the best interest of our stakeholders, including our entire customer community, is our top priority. 3. What does the future hold? Our intention is for this process to maximize value for all stakeholders. It also is our goal to position Celsius to emerge as a stronger company. This process will give us the best opportunity to consummate a comprehensive restructuring transaction that maximizes value for all stakeholders. 4. When will customers be able to withdraw assets? On June 12, 2022, we made the difficult but necessary decision to pause withdrawals, Swap, and transfers on our platform to stabilize our business and protect our customers. ...




  CEL NEWS


Celsius Network Unstakes Ethereum Holdings Amid Reorganization Efforts

    The bankrupt cryptocurrency lender Celsius Network announced its plan to unstake significant holdings of ethereum to facilitate asset distribution to its creditors. This move is part of the firm's ongoing efforts to restructure and resolve outstanding liabilities.Crypto Lender Celsius to Unstake Ether Celsius Network's decision to unstake ethereum (ETH) reflects a broader strategy to manage its assets amidst a challenging phase. After filing for Chapter 11 bankruptcy protection in July 2022, the company faced a liquidity crisis following the downward spiral of the crypto market. The unstaking process is intended to provide necessary liquidity to offset costs incurred during the restructuring process and ensure timely distributions to creditors. 'Celsius will unstake existing ETH holdings, which have provided valuable staking rewards income to the estate, to offset certain costs incurred throughout the restructuring process,' the company announced on Friday. The company added: The significant unstaking activity in the next few days will unlock ETH to ensure timely distributions to creditors. According to the blockchain and crypto intelligence firm Nansen's staking data, Celsius has a notable 206,300 ETH queued for unstaking withdrawal. This significant withdrawal is anticipated to considerably influence the firm's asset handling and represents a move towards meeting its commitments to creditors. Following the decision to open its vault, allowing select users to withdraw a por... read More



Celsius Network Files 'Adversary Complaint' Against EquitiesFirst to Rec...

    Bankrupt crypto lender Celsius Network submitted an 'adversary complaint' against EquitiesFirst Holdings on Wednesday, as per the confidential adversary complaint. The moves come as Celsius attempts to recoup assets from the private lender which reportedly owes $439 million. The debt comprises $361 million in cash and 3,765 BTC as of July 2022. EquitiesFirst: The 'Mysterious' Debtor to Celsius The filing stated that Celsius is seeking injunctive relief and a declaratory judgment related to the 'recovery of money/property,' as indicated in the docket's title. The complaint lists EquitiesFirst and its CEO, Alexander Christy, as defendants. Founded in 2002, EquitiesFirst 'specializes in long-term asset-backed financing' and manages stock but started crypto-collateralized loan services in 2016. Three years later, Celsius sought financial assistance from EquitiesFirst to 'support its operations,' but their overcollateralized crypto loan encountered difficulties by 2021. Earlier this July, reports surfaced disclosing that the Indianapolis-headquartered private lending platform was the mysterious debtor to Celsius, owing a sum of $439 million to the troubled firm. In addition to adversary complaint filing, Celsius also submitted a summons on the same day, mandating that EquitiesFirst present a motion or response within a 35-day timeframe. A Year After Bankruptcy Amidst the cryptocurrency market's sharp decline last year, Celsius emerged as one of the early casualties, seeking C... read More



Judge Denies CEL Valuation Boost; Evades CEL's Security Classification i...

    In the unfolding saga of the Celsius bankruptcy case, a proposal was presented to elevate the defunct crypto enterprise's native token, CEL, to a valuation of $0.80 each. Yet, the overseeing U.S. bankruptcy judge, Martin Glenn, dismissed this proposal. Consequently, Celsius's creditors are rallying to set the token's worth at a more modest $0.25 apiece.Judge Denies Several Motions in Celsius Bankruptcy Case During the Celsius legal proceedings, creditors pushed for CEL's valuation to reflect its pre-bankruptcy rate of $0.80. They contended that CEL's worth had been artificially tampered with. Despite their fervent arguments, judge Glenn was unconvinced and shot down the motion, among several others. The next chapter in this drama? Creditors are now preparing to vote on a revised valuation of $0.25 for each CEL. Whether judge Glenn gives this the nod remains a gripping question. As of today, CEL's market performance stands at a modest $0.118 per token, experiencing a dip of over 3% against the U.S. dollar in the last day alone. Its total market cap hovers around $50.4 million as of Saturday, August 26, 2023. The past month hasn't been kind to CEL either, plummeting 25.9% against the U.S. dollar. This marks a staggering 98.5% fall from its zenith of $8 per token on June 04, 2021. In another intriguing twist, a creditor invoked a recent XRP partial ruling, hoping judge Glenn would 'recognize the legal precedent' from that case. But in a consistent fashion, the judge dismissed t... read More



US Court Dismisses Former Celsius Network CEO's Motion to Block New York...

    Former Celsius Network Alex Mashinsky will now have to defend himself against a lawsuit filed by New York Attorney General Letitia James after a New York County Supreme Court Justice rejected his attempts to have the suit dismissed. The court’s decision blocks the attempt by Mashinsky to stop James from seeking to preclude him from issuing securities or serving as a company officer in the state.Mashinsky Misstatements Induced Investors to Deposit Assets on Celsius A United States judge has rejected former Celsius Network CEO Alex Mashinsky’s attempt to have the court dismiss a lawsuit filed by New York Attorney General (NYAG) Letitia James, a report has said. The court’s decision blocks the attempt by Mashinsky to stop James from seeking to preclude him from issuing securities or serving as a company officer in the state. In her judgment, New York County Supreme Court Justice Margaret Chan reportedly argued that James’ lawsuit should be allowed to stand because there are enough accusations to sustain the case against Mashinsky. 'There are sufficient allegations to support a plausible inference that Mashinsky’s alleged misstatements induced or promoted new investors to deposit assets in Celsius’ earned-interest accounts,' Justice Chan said in her ruling. Mashinsky's Misrepresentation of Celsius' Financial Condition As reported by Bitcoin.com News in January, James is said to have filed the lawsuit against Mashinsky after it became of the fo... read More



SEC Names No Cryptocurrencies Other than CEL Securities in Fresh Filing

    The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against fallen crypto lender Celsius and its ex-boss, Alex Mashinsky after the latter was reportedly arrested on Thursday. The agency accused Celsius of illegally raising billions of dollars through unregistered securities offerings, but only named CEL token as a relevant crypto security in the case. SEC V. Celsius and Mashinsky The lawsuit, filed Thursday morning in a Manhattan federal court, claimed that both Celsius and Mashinsky “misled investors” by fraudulently manipulating the price of CEL – described as “Celsius’s own crypto asset security.” CEL served a variety of internal functions for Celsius users, such as boosting owners’ earnings payouts on the Celsius platform. It was how Celsius raised money during its initial coin offering (ICO) in 2018. The SEC took further issue with the company's “Earn Interest Program” – one of its main offerings that provided users with interest for depositing their crypto. Payouts varied from asset to asset, with some cryptos promising interest above 17%. “Defendants never filed a registration statement for their offers and sales of the Earn Interest Program, however, and no exemption from registration was available,” wrote the SEC. For his violations, the SEC seeks civil and disgorgement penalties against Mashinksy, as well as restrictions barring him from purchasing, offering, or selling crypto ... read More



People Are Still 'Bullish' About FTT and CEL, 2 Tokens Backed by Bankrup...

    Despite the recent collapse and the exchange filing for bankruptcy protection, crypto traders are still paying more than a U.S. dollar for FTX's FTT token on Friday, Nov. 18, 2022. FTT was once a top-30 crypto asset, and now the token has no rank on specific coin market aggregation sites due to locked FTT tokens entering circulation following the FTX bankruptcy filing.Bankrupt Crypto Exchange FTX's FTT Token Still Trades Above $1 While the FTX exchange collapse is a mess and the new FTX CEO said prior FTX leadership was a 'complete failure of corporate controls,' and it was 'a complete absence of trustworthy financial information,' the exchange token FTT is still trading for $1.48 per unit. Despite the fact that FTX filed for bankruptcy, the coin is held by a few concentrated hands, and the FTT Contract Deployer unlocked 192 million previously locked tokens it has not joined the list of dead crypto coins trading for less than a U.S. penny. At the time of writing, FTT's 24-hour price range has been between $1.46 per unit to $1.62 per FTT. The coin lost approximately 93.9% during the last 14 days and because of the Contract Deployer incident, it is no longer ranked on coingecko.com. On coinmarketcap.com, however, it ranks # 209 on Nov. 18, 2022, out of 21,790 listed crypto coins. After hitting its all-time price high on Sept. 9, 2021, FTT was ranked # 25 on coingecko.com and it had a $7.76 billion market valuation. Crypto Proponents Are Still 'Bullish' About Crypto Coins Like... read More



Celsius Investors May Be Left Dismayed As CEL Drops 6.5% In Last 7 Days

    To everyone's surprise, the Celsius Network is still operating after the drama surrounding its bankruptcy in July. Alex Mashinky, the company's CEO, quit on September 27 despite the announcement of a revival. The Securities and Exchange Commission joined the chorus of agencies that came down hard on the company. When the SEC ruled that interest-paying crypto investments must be registered, Celsius found itself under a microscope. The native token of Celsius, CEL, was impacted by these events, but what's more unexpected is that CEL is still being used. However, investors of CEL tokens will be even more dissatisfied now that controversy surrounds the token. As of this writing, CEL is trading at $1.37, down 6.5 percent in the last seven days, data from Coingecko show. A Chill In The Air At Celsius Unlike most widely traded currencies, trading in CEL right now is extremely light, as evidenced by the gaps in the candle chart. Recent data shows a decline in CEL token trading volume from 19.8 million to 4.49 million. The percentage reduction in business activity was staggering, at 77.3%. This is hardly surprising given that other on-chain signals also do not bode well for CEL. The market capitalization has decreased from a weekly high of $655,331,055 to $582,698,525. The coin's trading activity is comparable to tokens with minimal activity. This is simply CEL burning off over time. Recently, though, the graphs are green. Is It Doable, Or Not? CEL is still a tradable asset on th... read More



Here's When Celsius Network Will Auction Assets Following the Bankruptcy

    The much-anticipated auction of assets belonging to bankrupt Celsius Network is likely to begin later this month. The embattled lending platform submitted an auction plan to the United States Bankruptcy Court for the Southern District of New York on Monday, media reports said. Here is all that you need to know about it: Celsius has set the deadline of 4 pm, October 17, for the bids to be submitted. If required, an auction will be held on October 20 at 10 am. A sale hearing on Zoom where a large number of participants are expected will be presided over by Chief US Bankruptcy Judge Martin Glenn on November 1, at 11 am. As per media reports, FTX is likely to bid for the troubled lending platform after recently making a successful bid for Voyager Digital, outbidding Binance in the process. The Sam Bankman-Fried (SBF)-led company is reportedly expected to go for $1-billion fundraising to finance new acquisitions. FTX has been at the forefront of acquiring distressed assets after the market meltdown in May. On September 27, Alex Mashinsky resigned as Celsius CEO as his financial conduct leading to the bankruptcy came into sharp focus.  In a voluntary disclosure, Mashinsky revealed to the unsecured creditor committee that he had withdrawn $10 million in May, weeks before Celsius paused withdrawals.    The post Here's When Celsius Network Will Auction Assets Following the Bankruptcy appeared first on CryptoPotato. read More



Why Celsius Investors Don't Seem Upbeat Despite CEL Rallying 30%

    Celsius (CEL) has been on the headlines recently in line with hearing updates following its filing of bankruptcy and sale of stablecoins. CEL price spikes 30% as seen in the past 24 hours Price slumps 13.21% despite improvement in social media metrics ETH Merge to impact CEL performance Celsius Network has recently filed for bankruptcy in July and is now in Chapter 11 proceedings. More so, the network has also requested for court authorization on its plans to dispose its stablecoins to pump up liquidity needed for its operations. Once this is approved by Martin Glenn, the U.S. presiding judge, the money pooled from the sale of stablecoins would serve as funding for Celsius operations. The said hearing on the sale of stablecoins is set on October 6 in New York. Agreement To Appoint An Independent Examiner In September, The U.S. Trustee’s office together with Celsius’ committee consisting of creditors made an agreement to assign an independent examiner with the condition that they will restrict both the funding and time allotted to the examiner. More so, the United States Trustee’s Office will be in charge of choosing the examiner. The judge has approved this on Wednesday. In this connection, Celsius has recently posted a tweet on September 15 harping on their willingness to continue working with the U.S. Trustee and Unsecured Creditors Committee as well as their commitment to improve network efficiency in order to serve their customers better. CEL Pric... read More



Bitcoin Retests $20K While CEL Holds Gains Amidst Market Bleeding

    The world’s foremost cryptocurrency, Bitcoin, has had an eventful week as it briefly hit the $22,500 benchmark on Friday. The crypto has been having a hard time for the past month, trading below $20,000. Detractors even went so far as to predict a $12,000 drop for the token amid the broader market’s bearish turn. Yet it rallied last week, breaking the $22,000 resistance mark before dropping again. Today, Bitcoin has climbed back and is currently trading around the $20,000 mark. Meanwhile, as the crypto ecosystem undergoes bearish turns in the throes of inflation, the Celsius price dropped 17%. The CEL token had soared by 13% on Sunday only to dip from a $1.7 high to $1.43 on Monday. On the one hand, there is the Ethereum Merge, a movement from the protocol’s PoW consensus to the energy-efficient PoS. The much-anticipated event has been the subject of much hype and market movements. It will take place this November 15th after multiple postponements due to several hitches in the development process. Another event analysts expect to affect the crypto market is the CPI release on September 13. Some have said that CPI, more than the Ethereum Merge, would determine the price of crypto in the coming days. These, coupled with the spiking inflation rates, have caused the entire crypto ecosystem to convulse continuously. Bitcoin's price is currently trading around $20,000. | Source: BTCUSD price chart from TradingView.com The Wider Crypto Market Is Bleeding For now, t... read More



CEL Price Surged 50% After Celsius Reopens Withdrawals Of $50M

    Celsius announced that users could cumulatively withdraw up to $50 million from all the locked accounts. These funds are for users who own Celsius Custody Program and Withhold Accounts. It now stands at $1.50, which is still higher than yesterday's lows and shows positive price movements.    But the sudden increase might not be sustainable. Data shows that CEL trading volume didn’t spike with the price. Analysts see this low volume as traders' lack of conviction in a continuing uptrend. Imminent Price Drop For CEL Looms The CEL four-hour chart shows that the token started painting a rising wedge since the August end. This pattern is usually a sign of an upcoming bearish price reversal. Also, CEL is testing the upper trendline for a pullback to the lower line.  CEL latter trendline is closer to $1.34. It has been serving as a good support zone. Any break below this support might increase the selling pressure in the market. A rising wedge breakdown setup will emerge if the CEL price plummets below $1.34.  By that, the token’s downside target would be as low as the maximum distance between the upper and lower trendline of the wedge if measured from its breakout point. The interpretation, CEL might lose 40% from September 2 price to stand at $0.87 by the end of September.  CEL's price currently stands around $1.44. | Source: CELUSD price chart from TradingView.com Negative Fundamentals Hanging Over Celsius  Celsius recently requested... read More



Bitcoin Sideways Action at $20K Goes on as Celsius Network (CEL) Skyrock...

    During the past day, most of the cryptocurrencies managed to recover slightly from the previous choppy price action. This resulted in the total market capitalization reclaiming the coveted $1 trillion level. Celsius Network's CEL token seems to be the main outlier. Bitcoin Flat at $20K The past 24 hours were relatively calm for Bitcoin. The cryptocurrency reclaimed the important $20K level, albeit not so convincingly. At the time of this writing, it is trading at around $20,100 (on Binance). Source: Binance via TradingView It's worth noting, though, that BTC did drop to $19,500 once again. It appears that this level provides serious support because the cryptocurrency dipped toward it on a few occasions, and it prevented any further sell-offs each time. The entire day saw about $23 million worth of liquidations across the entire Bitcoin market. Altcoins Chop, CEL Skyrockets Out of the top 100 coins by means of total market capitalization, the most obvious outlier seems to be CEL. The cryptocurrency skyrocketed by a whopping 28% over the past 24 hours in a market that's relatively flat. Source: Quantify Crypto Most of the altcoins are charting slight increases, recovering from the previous choppy downward price action and targeting some key levels once again. ETH eyes $1.6K after gaining 3.2% in the past day. ATOM is up a more considerable 8%, while other major coins like XRP, ADA, SOL, DOT, and ETC are also up. This has brought the total market capitalization above $1 trillion... read More



Celsius Network's Token CEL Drops 58% After Bankruptcy Filing, So-...

    During the last 30 days, the Celsius Network's native token CEL increased in value by over 140% against the U.S. dollar. On July 13, just before the lending company filed for Chapter 11 bankruptcy, CEL was exchanging hands for $0.961 per unit. Following the news that the company filed for bankruptcy protection, the native crypto asset dropped 58% to a low of $0.40 on the same day. CEL has managed to climb back from the drop as the digital currency is currently swapping for prices between $0.69 to $0.73 per coin on July 14.So-Called CEL Short Squeeze Attempt Slips, Token Drops 58% After Bankruptcy News Following the company pausing withdrawals and other operations on the lending platform, traders on social media started a trend to get people to 'short squeeze' the crypto asset CEL. Social media posts on Twitter, Reddit, and Facebook claim that Celsius Network's native token CEL is being short-squeezed by members of the Celsius community. Some people promoting the trend explain that getting CEL's value to skyrocket will help the company Celsius get out of financial trouble. Influencers claim the move is akin to the infamous Gamestop short squeeze attempt pushed by the community members from the subreddit r/wallstreetbets. '[The] CEL Short Squeeze metrics still on our side,' one individual wrote on Wednesday. '93% CEL token remains locked up on the Celsius,' the Twitter account added. However, CEL short squeeze promoters have come under fire as people have criticized the idea a... read More



CEL Token Price Plummets 50% As Celsius Goes Bankrupt

    After the Celsius Network's decision last month to freeze all transactions and withdrawals, the whole cryptocurrency market plummeted into a deep and gloomy sinkhole. This week there was some good news, when Celsius paid off its remaining $41.2 million debt to the DeFi protocol MakerDAO. This payment allowed Celsius to release $448 million in collateral. However, it appears that this will be the only positive development from the U.S. crypto lender in the coming days or months. After weeks of conjecture and hearsay, Celsius's legal counsels have formally informed regulators that the cryptocurrency lender has filed for Chapter 11 bankruptcy protection. Suggested Reading | Loopring Wobbles In Last 2 Months – Can LRC Stay In The Loop? CEL Loses Half Its Value After Bankruptcy News Following the disclosure of bankruptcy, CEL, the native cryptocurrency of Celsius Networks, lost half of its value from its intraday high of 95 cents and down to 45 cents. In the last month, there has been an increase in the number of cryptocurrency-related failures. After the crypto hedge fund Three Arrows Capital and the crypto lender Voyager Digital, Celsius becomes another domino to fall in the bankruptcy abyss. Since June 20, the price of CEL has nearly grown four-fold due to what appears to be a fervor caused by futures and derivatives traders. CEL rose from $0.28 on June 15 to $1.56 on June 21, a 456 percent increase compared to the market's 12.36 percent increase during the same time... read More



CEL Dumped 50% After Celsius Filed for Chapter 11 Bankruptcy Protection

    Celsius Network announced today that it initiated a voluntary Chapter 11 bankruptcy protection with the Southern District of New York. Consequently, Celsius' native token recorded a dip of over 50% at one point and dumped to a monthly low before recovering some ground. According to Celsius, the need for bankruptcy protection will help it in the restructuring process. “This is the right decision for our community and company,” said Alex Mashinsky, Co-Founder & CEO, of Celsius. “We have a strong and experienced team in place to lead Celsius through this process. I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company.” Celsius Network Not Out of the Woods Yet The Celsius Network has been battling the liquidity crisis since June 13, 2022, when the company paused all withdrawals, swaps, and transfers between accounts. In the past few weeks, the company has paid off some debts to unlock users' funds in different lending protocols, including AAVE and Compound. For instance, a blockchain transaction associated with Celsius sent $81.5 million worth of USDC to the Aave protocol on Tuesday. As a result, the company was able to access $410 million worth of stETH. While the crypto lender continues its restructuring process, various global jurisdictions led by several states in the US are investigating it. “U... read More



Celsius (CEL) Price Scorches To 130% Rally Despite Frozen Network Accoun...

    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 | Shiba Inu Now The Largest ETH Whales’ Holding Despite Crypto Market 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 | .com The CEL token has experienced a dramatic ascent ... read More



CEL Price Soars 115% Daily Despite Celsius Network Accounts Still Frozen

    The native cryptocurrency of Celsius Network - CEL - has skyrocketed by some 115% in the past 24 hours alone. This comes as the broader market sees a relief following last week's devastating drops. CEL is the strongest performer in the past 24 hours, charting an increase of some 115%, which adds up to a whopping 380% over the last seven days. At the time of this writing, the cryptocurrency trades at slightly below $1.4. Source: CoinGecko This massive move also brought about $1.78 million worth of liquidated CEL positions, according to data from Coinglass. Interestingly, the move comes on the back of seemingly negative news. As CryptoPotato reported yesterday, the platform stated that they won't unfreeze accounts and will also pause Twitter spaces and AMAs in a bid to focus on handling the issues at hand. It has been one week since we paused withdrawals, Swap, and transfers. We want our community to know that our objective continues to be stabilizing our liquidity and operations. This process will take time. - Read the statement. read More



Celsius Network Pauses AMAs and Twitter Spaces, Wants More Time to Find ...

    A week after halting withdrawals, among all other services, the team behind Celsius has suspended some of its online engagement programs, including AMAs. At the same time, the project promised to be working with regulators to find a solution for the ongoing issues. The latest update shared by Celsius reads that the team's objective has not changed in the past seven days as they are trying to stabilize the liquidity and overall operations. However, the post warned that this process 'will take time.' Celsius is also working with regulators and officials regarding its 'determination to find a solution.' To focus more on the necessary work that needs to be done, though, the team said they had paused Twitter Spaces and AMAs. Echoing the words of the founder and CEO - Alex Mashinsky - the new post reaffirmed that they 'continue to work around the clock' to find a solution for all customers that are unable to withdraw their funds for a week now. Celsius' statement comes just a few days after BnkToTheFuture's CEO - Simon Dixon - (lead investor in the project), offered a possible solution, similar to what Bitfinex did in 2016 after suffering a massive hack: 'I believe that this can only be solved with a solution using financial innovation like we did with Bitfinex that was resolved within 9 months and worked out very well for depositors.' - Dixon said, after indicating that traditional finance 'will not have a timely solution for Celsius.' This could be among the very few options C... read More



Investors Not Looking to Bail Out Struggling Celsius Network (Report)

    Amid the challenges plaguing the cryptocurrency lending firm Celsius Network, there are reports that investors may not provide more funds to bail the platform out of the troubled waters. No Investor Bail Out for Celsius According to the Wall Street Journal on Thursday (June 16, 2022), anonymous sources revealed that Caisse de dépôt et placement du Québec, a Canadian fund, and growth-equity firm WestCap Group, which led Celsius Series B funding round last year that raised $75 million, may not provide more funds to help the struggling crypto lender. Another source also noted that current investors are either willing to wait for a Celsius acquisition or a restructure of the platform. One person familiar with the talks between Celsius and its investors said, 'few are feeling OK about things. There was more risk in this than fully appreciated.' The latest development comes amid Celsius being insolvent and facing a liquidity crisis. On-chain data has shown that the platform held a large amount of staked ether (stETH). Celsius took ETH deposited by customers and staked them on the Ethereum Beacon chain via the liquid staking protocol Lido and received stETH in return. The company then deployed these new tokens on other DeFi protocols to generate yield. 'Staked ETH has increasingly become decoupled from ether amid concerns over the delayed merge on Ethereum. Consequently, large holders have been dumping the coin, and this continues to dry up liquidity for any swa... read More



Celsius Network Hires Restructuring Lawyers After Account Freeze: Report

    Celsius Network has hired restructuring lawyers for consultation regarding their current financial challenges. Note that four days ago, the crypto lending colossus announced that it had paused all withdrawals due to the prevailing market crisis. The freeze continues indefinitely while Celsius makes aggressive measures to help its case. Celsius Takes Frantic Measures Sources familiar with the matter told The Wall Street Journal that the new attorneys are from the law firm Akin Gump Strauss Hauer & Feld LLP. Additionally, they noted that the company is seeking help from its investors other than financial restructuring. The firm was one of the crypto lending firms offering attractive yields of up to 18.63% annual percentage yield (APY). There were concerns about the sustainability of this framework, but those were never addressed at the time. However, now that the crypto market is in free fall, it may have to reorganize its rewards system to a more sustainable one. Its latest Twitter communication reads: “.@CelsiusNetwork is working around the clock for our community. It’s all hands on deck, so there will be no Twitter Spaces this week.” The firm has also cautioned that the so-called CEL2.0 token is not its creation, rather it is likely a scammer seeking to profit from its current crisis. As for its position in the market, Celsius has added 6,000 Wrapped Bitcoin (WBTC) to the DeFi platform MakerDAO to lower the price at which it could be liquidated. Should Cels... read More



CEL Token Pumps Over 300%, Then Instantly Dumps

    The native token for crypto lending platform Celsius has abruptly skyrocketed following bullish news regarding its efforts to address liquidity issues. On-chain data shows that the company has received substantial DAI stablecoin contributions, which its already used to pay back its loans. According to Etherscan, Celsius received multiple DAI transactions worth over $28 million in total at about 10:50 am EST. These funds were immediately transferred to an Ethereum contract address representing its loan with Oasis, helping to pay back some of the debt it owes. These funds pushed down the liquidation point on Celsius’s loan to $15,152. The company has hastily been retrieving liquidity to shield its $534 million worth of collateral on the loan from being liquidated. Alongside DAI, Celsius has deposited thousands of wrapped Bitcoin (WBTC) as additional collateral as crypto prices continue falling. Following the news, CEL – a token that helps Celsius users earn additional payouts on Celsius – pumped drastically. Sitting at just $0.33 at 10:54 am EST, it shot to $1.42 by 12:04 pm EST according to CoinGecko. The coin fell sharply immediately afterward, however. At the time of writing, CEL now rests at just $0.56. Celsius recently came under hot water after freezing withdrawals from its platform due to liquidity issues. The company uses lending in the defi space to generate yield on behalf of its customers, who deposit their funds with the platform. read More



What's Going on With Celsius Network and Why Is It a Huge Risk for...

    Celsius Network has been at the tip of everyone's tongue over the past week, and not without a reason. The platform is at the forefront of the ongoing cryptocurrency storm and market downturn. A couple of days ago, the company did what many were afraid of - Celsius Network paused all withdrawals, swaps, and transfers between accounts. Users are essentially locked out of their funds as the company promises that 'acting in the interest of our community is our top priority.' “Celsius invented yield and before that no one paid yield. I’m talking about a year and a half before DeFi. Celsius is the first one to come and say “yield Bitcoin on Bitcoin, or if you want to earn more, here’s a token - you can earn with the token.” told us CEO Alex Mashinsky in an exclusive interview in April. Mashinsky probably didn't expect the huge mess his company would be facing just two months after. In any case, Celsius Network is one of the largest cryptocurrency lenders and a huge player in the crypto space. As of the time of this writing, it's also in obvious distress - a situation which, if further escalated, could have serious consequences for the entire industry. Let's unwind. What is Celsius, and How Does it Work? Celsius Network is a centralized platform that offers yields on various cryptocurrencies, including ETH, BTC, and many stablecoins. The way it has positioned itself reminds that of a bank, but in fact, it seems to operate more like a hedge fund. The bu... read More



Nexo Wants to Buy Qualifying Assets of Celsius Network After Withdrawal ...

    Earlier today, Celsius Network halted all withdrawals, swaps, and transfers between accounts of its users, citing extreme market conditions. Now, rival crypto-lending company Nexo extends a letter of intent to buy all qualifying assets of the company. As CryptoPotato reported earlier today, one of the leading cryptocurrency lenders - Celsius Network - is facing major difficulties. Citing 'extreme market conditions,' the company halted all withdrawals, swaps, and transfers between the accounts of its users, causing a stir within the crypto community. Shortly after, a rival company - Nexo - sent a letter of intent 'to purchase remaining qualifying assets' of Celsius Network. Nexo, its partners, and affiliates could readily acquire from Celsius part or all qualifying, outstanding collateralized loan receivables secured by their corresponding pledged cryptocurrency collateral, subject to Nexo's risk management and collateral requirements. Nexo took it to Twitter to confirm the news: After what appears to be the insolvency of Celsius Network and mindful of the repercussions for their retail investors & the crypto community, Nexo has extended a formal offer to acquire qualifying assets of Celsius Network after their withdrawal freeze. The company believes that this will 'go a long way in providing immediate liquidity to Celsius Network Clients.' Celsius Network has until June 20, 2022, at 4:30 AM UTC to respond. read More



Plunging Celsius (CEL) Yields Ignite Investor Exodus: Reports

    Reports are suggesting that all may not be well at the Celsius crypto lending platform. Some customers claim they have been unfairly wiped out, while company CEO Alex Mashinsky asserts that malicious actors are trying to collapse the system. Celsius is one of the crypto industry’s largest lenders, with $11.8 billion worth of assets. The company operates by loaning out digital assets that users have deposited while offering them high yields in interest in return. Celsius also lets investors take out loans at low rates using crypto as collateral. This model works fine when markets are buoyant, and demand is high, but when prices tank hard and fast as they have been doing this month, the entire system becomes unstable. Bitcoin bull Max Keiser compared the high yields on Celsius to those previously offered by DeFi platforms harnessing UST and LUNA. The high yields on CEL are a mirage. Just like LUNA/UST. https://t.co/22wQIYpRR4 — Max (@maxkeiser) May 19, 2022 Terra First, Celsius Next? On May 18, Barron’s reported that the firm has come under pressure on two fronts recently. Regulators claim they operate outside the law, and the crypto crash has led to panicked customers withdrawing their funds. One former customer tweeted: “Withdrew all funds, Cel token imploding, big warning sign. Celsius offering $50 bonus for depositing $2500 in stables is red flag. Capital preservation is more important, than return on capital.” In a Twitter Spaces event this ... read More



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