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What is Celsius Network all about
Celsius is a financial service platform for crypto users that aims: "To put unparalleled economic freedom in the hands of the people." Celsius network strives to disrupt the banking system, by utilizing blockchain technology. It allows users to earn high yield for HODLing cryptocurrency, as well as take crypto loans with small monthly interest.
Users of the Celsius Network can choose to deposit their crypto assets on the platform. Celsius supports a multitude of various stablecoins, gold tokens, and traditional cryptocurrencies. Depositing these assets results in earning crypto rewards. distribution of rewards is determined by a modified version of the Proof-of-Stake concept. The funds deposited by users go to a "lending stake pool", from which external exchanges can lend from. The interest from these loans is distributed later amongst depositors. The PoS formula determines the amount received based on how much they deposited, and how long they have participated in the consensus.
CEL is an ERC-20 token, and it's the network's native cryptocurrency. It has several uses in the ecosystem and users who choose to deposit their crypto may opt to receive their rewards in CEL. Celsius encourages its participants to hold their CEL tokens with a loyalty program. The more CEL tokens a user has, the more rewards they earn, and the higher their loan interest discount becomes. These bonuses can go up to 30% bonus on earnings, and 25% discount on crypto loans.
The Celsius Network highly values transparency and has developed an initiative called Proof-of-Community. It is made out of the Rewards Explorer, and the Horizen Blockchain Audit. The rewards explorer allows any user to check and calculate weekly rewards, rates, etc. Meanwhile, Horizen, using zkAudit (zero-knowledge audit) technology allows for near-real-time auditing. This process proves liquidity on the network, without the need to rely on validators, and while keeping all customer info private.
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CEL Questions & Answers
Currently, what is the price of Celsius Network?
Price of Celsius Network right now is 0.79 Euro.
To date, what was the highest price of Celsius Network?
We saw the highest spike in the price of Celsius Network on 2021-04-09, at 6.69 EUR.
What will the Celsius Network price be in 30 days?
In accordance with our prediction, we suspect that the cost of Celsius Network will be anywhere between €0.12 and €1.81 in one month.
Is Celsius Network expected to increase in value in three months?
Using our price prediction algorithm we estimate that the cost of Celsius Network will be between €0 and €1.81 in three months.
What will Celsius Network cost in six months?
Difficult as it is forecasting long term according to our prediction algorithm we estimate that Celsius Network's cost will reach anywhere between €0 and €1.81 in six months.
What is the popularity of Celsius Network on online?
39954 Reddit users were participating in an online discussion on Reddit about Celsius Network in the last 48 hours. Celsius Network's official Twitter profile is followed by 224248 users.
10 days Celsius Network price forecast
Long term Celsius Network price prediction