Bidya logo
  Crypto Coin Prices and News  

CEL Price   

Cap | Volume | High | Low | Old | New | Rare | Vs | Blockchains | Exchanges | Market | News | Dev News | Search | Watchlist
CEL

Celsius Network  

#CEL

CEL Price:
$1.11
Volume:
$19.4 M
All Time High:
$8.10
Market Cap:
$0.1 B


Circulating Supply:
124,849,997
Exchanges:
25
Total Supply:
692,753,438
Markets:
38
Max Supply:
695,658,161
Pairs:
11



  CEL PRICE


The price of #CEL today is $1.11 USD.

The lowest CEL price for this period was $0, the highest was $1.11, and the exact current price of one CEL crypto coin is $1.11412.

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 BTC or other crypto coins.


  CEL OVERVIEW


The code for Celsius Network is #CEL.

Celsius Network is 4.4 years old.


  CEL MARKET CAP


The current market capitalization for Celsius Network is $139,098,048.

Celsius Network is ranked #178, by market cap (and other factors).


  CEL VOLUME


The trading volume is large today for #CEL.

Today's 24-hour trading volume across all exchanges for Celsius Network is $19,389,733.


  CEL SUPPLY


The circulating supply of CEL is 124,849,997 coins, which is 18% 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 available on several crypto currency 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



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. ...




Updated FAQ

1. What did Celsius announce? Celsius has 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 subsidiaries have 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? Chapter 11 is a process in the U.S. through which companies restructure their financial obligations while operations continue. Many well-known companies have successfully reorganized under Chapter 11 and emerged stronger, including American Airlines, Delta, General Motors, Hertz, and Marvel, to name a few. 3. Why is the company filing for Chapter 11? 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. 4. 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. 5. When will custo...




Important Community Update

Moments ago, we announced that Celsius voluntarily filed petitions for Chapter 11 reorganization. You will be able to find the official announcement here. Today’s filing follows the difficult but necessary decision by Celsius last month to pause withdrawals, Swap, and transfers on its platform to stabilize its business and protect its customers. Without a pause, the acceleration of withdrawals would have allowed certain customers — those who were first to act — to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery. Following the stated pause on June 12, 2022, we want you to know that we spent a great deal of time exploring our options. These Chapter 11 cases provide the Company with the best opportunity to stabilize the business, consummate a comprehensive restructuring transaction that maximizes value for all stakeholders, and emerge from Chapter 11 positioned for success in the cryptocurrency industry. We apologize that communication with our teams and community has been very limited over the past few weeks, and we look forward to being able to offer greater transparency with everyone through our reorganization, which encourages dialogue with all stakeholders. For additional information regarding Chapter 11 protection, please watch this video. Additional information about the Chapter 11 filing...




Across Celsius today

Across Celsius today, we are focused and working as quickly as we can to stabilize liquidity and operations, in order to be positioned to share more information with the community. We are operating with the entire community and all clients in mind as we work through these challenging times. We continue to take important steps to preserve and protect assets and explore options available to us. These options include pursuing strategic transactions as well as a restructuring of our liabilities, among other avenues. These exhaustive explorations are complex and take time, but we want the community to know that our teams are working with experts from many different disciplines. Our relationship with the community and our clients has been a source of pride for all team members at Celsius, and we will continue to share information with our customers as and when it becomes appropriate. Celsius For assistance, please connect with us Monday — Friday from 10am — 11pm EST at 1–866–463–5669, or send us a message Please find our latest FAQ here. Disclaimer: This communication does not constitute an offer or solicitation to buy any securities, and shall not constitute an offer or sale in any jurisdiction in which such offer or sale would be prohibited. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amend...




A note to the Celsius community:

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. As has been a priority since our company’s inception, we maintain an open dialogue with regulators and officials. We plan to continue working with regulators and officials regarding this pause and our company’s determination to find a resolution. We are pausing our Twitter Spaces and AMAs to focus on navigating these unprecedented challenges and seeking to fulfill our responsibilities to our community. Acting in the interest of our community remains our priority and we will continue to work around the clock. We are grateful for your continued support. Celsius Please note: We have seen an uptick in social media accounts falsely purporting to be associated with Celsius. We urge the community to be vigilant, and see our guide to spotting fake accounts and content here.




A Memo to the Celsius Community

We are writing with a very important message for our community. Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations. Acting in the interest of our community is our top priority. In service of that commitment and to adhere to our risk management framework, we have activated a clause in our Terms of Use that will allow for this process to take place. Celsius has valuable assets and we are working diligently to meet our obligations. We are taking this necessary action for the benefit of our entire community in order to stabilize liquidity and operations while we take steps to preserve and protect assets. Furthermore, customers will continue to accrue rewards during the pause in line with our commitment to our customers. We understand that this news is difficult, but we believe that our decision to pause withdrawals, Swap, and transfers between accounts is the most responsible action we can take to protect our community. We are working with a singular focus: to protect and preserve assets to meet our obligations to customers. Our ultimate objective is stabilizing liquidity and restoring withdrawals, Swap, and transfers between accounts as quickly as possible. There is a lot of work ahead as we consider various options, this process w...




  CEL NEWS


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



More Celsius Network (#CEL) News

CEL vs TRX | A-Z | Topics | ISO 20022


Privacy | Terms | Contact | Powered By LiveCoinWatch


bidya